The container shipping lines’ fortunes have had a strong start to the year after average outbound container-rates from China climbed 6.8% in January compared to the end of December. That’s usual ahead of the lunar new year, but there’s three reasons to be cautious. First is that rates for shipping to South Korea and the west coast U.S. both declined, suggesting potential weakness in medium term economic conditions. Second is that bunker fuel prices increased 15.8% during the month, potentially squeezing profits. Finally the bulk shipping industry, which is exposed to similar economic-...