Trade is what makes the world economy go around and this set of charts shows why global growth is so sluggish right now. Freight rates are down, indicators have softened, demand has dropped, and bunker fuel prices and charter rates are up, according to a new report from HSBC that argues there is worse still to come for the container shipping sector. It should know, given that the bank settles more global trade transactions than any other - around 11 per cent of all trade in the world. "Almost everything is heading south and we cut our forecasts sharply," said the report, which estimates global containerised trade grew 1 to 2 per cent year on year. HSBC has cut its full-year forecast to 4 per cent from 6 per cent as a result.