China imported record amounts of copper and iron ore in April as its mammoth stimulus program stoked its foundries and mills.  But the nation’s exports remained weak, leaving some to wonder how much longer the country can keep its economic fires lit without an increase in global consumption.

The stocks of oil tanker companies are cheap…very, very cheap. But before moving into the heart of this investment observation, let’s gain a sliver of insight about the value of shipping itself.

There is a map of the world on my office wall. What I like about this map is that the mapmaker paid particular attention to getting the scale right.