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Why this tanker shipping depression is different from past slumps Shipping busts can be even more exciting than shipping booms. When spot rates crash, debt comes due, vessels are arrested, bankruptcies pile up and vultures swoop in. But not all shipping collapses are so action-packed. Sometimes things never devolve into total crisis mode. Sometimes the market gets stuck in limbo — like tankers are now. Tanker rates have wallowed at or near historic lows throughout 2021, weighed by oil inventory destocking, COVID-struck demand and a stubborn aversion to scrapping older ships. The market is �...

No relief: Global container shortage likely to last until 2022 The world does not have enough containers in the right places to handle cargo demand. It’s a conundrum that has persisted for so long that the mainstream press is finally covering it. The New York Times reported Friday how the box shortfall is contributing to inflation: “Demand … has outstripped the availability of containers,” while the U.S. pandemic situation has eased to the point where retailers can pass along higher transport costs to consumers without being accused of price gouging — and “the cost of just about e...

Which shipping stocks rose the most in wake of COVID pandemic? The stock market has boomed in the COVID era, driven by fiscal and monetary policy and surging retail-investor interest. Many ocean shipping stocks — with the glaring exception of tanker equities — have followed suit. Which U.S.-listed shipping stocks rose the most? Price gains arbitrarily depend on which date range you choose. For shipping, the current one-year range is perhaps the best gauge of stock moves. Broader equity markets started rebounding in the third week of March 2020, after it became clear that the government’...

In 2020, shipping executives predicted the container-shipping capacity squeeze would last until Chinese New Year in February 2021. When that didn’t happen, they said mid-2021. The bar is now moving further out — to the fourth quarter or beyond. After market close on Tuesday, Matson (NYSE: MATX) CEO Matt Cox said on a conference call ...

‘Sky’s the limit’ for already lofty container-ship charter rates Just when you thought container shipping couldn’t get any hotter, it has. Liners are desperate for more ships to handle booming cargo demand. Companies known as tonnage providers or nonoperating owners (NOOs) — which own ships and lease them to liners — are now achieving rates and charter durations that haven’t been seen since the mid-2000s. The “sky’s the limit for charter rates,” said Alphaliner in its new weekly outlook. “There is no end in sight to the current strong market, with the squeeze of [vessel]...