But improving economic conditions boosted cargo space demand in a few key regions.
With iron ore comprising 60 percent of Australia's exports to China, the slump begs the question -- what's going on in China?
And here's why that may be a very bad idea for the world's second-largest economy.
Russia has deployed an array of operations to deter would-be terrorists from targeting the Winter Games.
The Chinese spent most of their money on regular goods over the traditional New Year holiday, not on luxury items.
Poultry regulation may feature prominently in 2014 on advocates’ agendas, after two critical December reports made waves.
Institutional investors are trying to sort out whether the sell-off is merely Fed-stimulus related or a deeper problem.
Private sector job growth remains below trend, but historically consistent with post-financial crisis recoveries.
Alfonso Fanjul, sugar tycoon and well-known anti-Castro activist, wants to invest in his home country.
Fiscal tensions were defused, but not extinguished, when Congress reached a modest budget accord in late 2013.
Interest rate hikes by the central bank and a cooling of commodities trade are blamed.
Brazil needs workers to finish building stadiums in time for the World Cup -- but at what price?
In stark contrast to its image as a liberal bastion, Portland has a long history of gentrification.
China's economy may not be growing as fast as before, but its demand for goods and commodities is as high as ever.
The eye-catching statistic reflects China’s growing reliance on wheat imports to feed a nation of 1.35 billion people.
Analysts had expected a bumper harvest this year for the world’s largest producer of Arabica coffee beans, but the weather isn't cooperating.
The approved licenses indicate an easing of restrictions and add to the debate over whether or not to nullify a crude export ban.
A 10-year plan to spend $100 billion on improving India's military now faces delayed orders.
Where are the bright spots in the U.S. manufacturing sector?
The World Gold Council estimates that about 30 percent of the gold mining industry becomes unprofitable below $1,200 per ounce.
Economists aren't very confident about their estimates because January is the month with the largest seasonal adjustment factor.
Nigeria’s current GDP is about $263 billion, while South Africa is hovering around $384 billion -- but what do the statistics really mean?
The visa program is aimed at wealthy investors and is expected to bring in more than $3 billion a year.
The sell-off was due to concerns over the U.S. economy, particularly Monday's disappointing manufacturing PMI data. But was it a panic?
The Southeast Asian country will post its fourth quarter economic figures on Tuesday.
After years of fighting against the U.S. military, the Taliban have run out of money after donors lost interest in their fight.
Many elderly Koreans in New York City are poor and isolated from the rest of society.
Interest from Mexico mirrors investments by Japanese pension funds, which have boosted gold holdings in recent years.
The Latin American country has been plagued with disappointing growth and high inflation.
Here's why immigration lawyer Sheela Murthy, famous in the Indian community here and abroad, doesn't think so.