In the case of Borden Dairy, they have 3,300 employees. The company says it can't afford it's debt nor it's pension obligations. Filing for bankruptcy is a way to negotiate using the courts in order not to pay those pensions.
They say that it's due to a drop in milk consumption and some are even saying that milk alternatives are to blame. But there has only been a 6% drop in overall milk consumption since 2015. That's just over 1% per year? Please. That's not the reason.
For those that don't know, shipping vessels run on a very very low grade form of fossil fuel called "bunker."
Bunker fuel is the heavy, dirty remnants left over from the refining process. From crude oil they make gasoline, diesel, kerosene, etc. What's leftover is the cheaper fuel used for these ships.
When you start to think about how many goods and commodities are traded worldwide FROM countries that can produce cheaply because of low labor standards and lax environmental regulations TO countries that consume them. How do they get there? Shipping vessels.