Page 8 - Freight Waves News Today

A worsening oil shortage could cause increased oil purchasing and tanker demand. So, why do I rate Petrobras a sell and DHT a strong buy? Click here to find out.

As the first half of 2022 draws to a close, shipping fortunes are mixed. Container shipping is the biggest winner from a profit perspective while product tankers are the biggest winners in the stock market. Pain at the pump is coinciding with a boom for owners of tankers that carry petroleum products. Freight rates and ...

Recent rapid declines in ocean shipping freight rates are not likely to lead to lower prices on promo products. Meanwhile, the “inventory glut” and demand drop that some retailers are experiencing are not an issue in promo, so far.

Despite surging inflation and waning consumer confidence, Port of Los Angeles Executive Director Gene Seroka sees America’s import boom persisting in the months ahead. “While we’re all cost-minded and we feel it at the pump and at the grocery store, we’re going to continue to buy,” he predicted at a press conference Tuesday, pointing to ...

Bulk commodity shipping stocks kept rising in May even as the broader market fell, offering shelter from the storm. Not so in June. With few exceptions, dry bulk and tanker stocks that previously held up are sinking. Declines for container shipping stocks have accelerated. Shipping stocks have been “unable to escape the torrent,” wrote Clarksons ...

The Ukraine-Russia war has already shaken up global energy markets. Sanctions finalized Friday by the EU will shake them up a lot more — not only for the tanker industry but also for American diesel and gasoline consumers. The EU is a vastly larger buyer of Russian petroleum than the U.S., which banned imports from ...

On Sept. 9, 2021, French container shipping giant CMA CGM announced an unusual step for a profit-focused enterprise with listed bonds: It put all increases in spot rates on hold until Feb. 1, 2022. The decision was made to “prioritize its long-term relationship with customers in the face of an unprecedented situation in the shipping ...

It’s not just the price diesel, gasoline and jet fuel that’s way up. The price of the marine fuel consumed by the world’s container ships, tankers and bulkers is breaking records. The price of very low sulfur fuel oil (VLSFO) — the 0.5% sulfur content fuel that powers most commercial ships — just exceeded the ...

It could be the relative calm before the peak-season, post-Shanghai-lockdown storm. Or it could be the final unwinding of COVID-era congestion as inflation takes hold. What happens next is still highly uncertain. But as of now, U.S. port queue numbers remain down from highs. “This appears to be a much needed respite for some ports ...

Shipping of containerized cargo into Russia has evaporated. Shipping of tanker cargo out of Russia is booming. It seems the world doesn’t miss selling consumer goods to Russians but can’t stop buying Russia’s oil cold turkey. Sanctions do not prevent liner companies from calling in Russia with their container ships. Yet they’ve stopped anyway, choking ...