The underlying fundamentals that have propelled the growth o f global trade over the last
decades beg to question their rationale and sustainability. The end o f asset inflation, the decline
in debt based consum ption, the overreliance on export oriented strategies and the associated
trade imbalances are imposing stringent readjustments on freight distribution systems and the
global value chains they support. Yet, from a business cycle perspective periods o f growth are
commonly followed by adjustm ent phases where misallocations are corrected, particularly if
based on credit. Thus, the wave that has led to impressive growth figures in transport demand
may shift towards a new paradigm that could have substantial consequences on the operating
conditions o f maritime shipping companies and transport terminals. This phase o f
readjustm ent is even m ore exacerbated by the extended role that finance has taken in maritime
shipping, trade and transport terminals in recent years.