Thursday, 1 September 2016

South Korean Shipper Files Bankruptcy

 After years of relentless decline in the Baltic Dry index.. ... today the largest casualty finally emerged on Wednesday when South Korea's Hanjin Shipping, the country's largest shipping firm and the world's seventh-biggest container carrier, filed for court receivership after losing the support of its banks, leaving its assets frozen as ports from China to Spain denied access to its vessels. South Korea's biggest shipping firm, announced the filing for receivership and a request to the court to freeze its assets, which the Seoul Central District Court planned to grant, a judge told Reuters. Aug. 31

The news of the bankruptcy comes at the solar eclipse of Sept.1. A chart for the eclipse at Seoul is shown here. This New Moon is conjunct the star Suhail Velorum of Argo Navis, the Celestial Ship. It forms a T-square with Mars-Saturn and Neptune that straddles the meridian at Seoul. Here Neptune is the ruler of the 2nd house linked to finance while Mars rules the 9th house that oversees shipping.

Saturn-Neptune: Undermining circumstances leading to a state of illness. With Mars, a lack of energy. The Combination of Stellar Influences

Mars and Saturn are the traditional malefics of astrology, the lesser and greater malefics, respectively. They are together and predominant in charts of “losers”—from losers of health to losers of social approval to losers of money.

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