Red Sea Chaos: Freight Rates Soar As Port Congestions Worsen!

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Container Rates Spike, AGAIN!
What's Going on With Shipping?
May 30, 2024
In this episode, Sal Mercogliano - a maritime historian at Campbell University (@campbelledu) and former merchant mariner - discusses the impact of Red Sea diversions on global shipping and the spike in freight rates.
#supplychain #containerships #houthi #container #shipping
Support What's Going on With Shipping via:
Patreon: www.patreon.com/wgowshipping
Twitter: @mercoglianos
Facebook: @wgowshipping
Email: mercoglianosal@gmail.com
Marine Traffic
marinetraffic.com
Megamax fleet now forms half of global boxship fleet
container-news.com/megamax-fl...
Alphaliner TOP 100 / 30 May 2024
alphaliner.axsmarine.com/Publ...
Houthis Claim Attacks on Six Ships in Red, Arabian, and Mediterranean Seas
gcaptain.com/houthis-claim-at...
Red Sea rerouting causing Asian port congestion
www.seatrade-maritime.com/con...
War of attrition could prolong Cape diversions
container-news.com/war-of-att...
Sea-Intelligence reports average minimum transit time up 39% on Asia-Med routes
container-news.com/sea-intell...
Singapore congestion reaches 2 million TEUs
container-news.com/singapore-...
Indian shippers and retailers suffer in a wave of supply chain disruption
theloadstar.com/indian-manufa...
Higher consumption in China, US contributed to rate spike
container-news.com/higher-con...
Getting containers in the right place at the right time is now 'impossible'
theloadstar.com/getting-conta...
Shipper fury as spot rates soar - and box lines ignore contracts
theloadstar.com/shipper-fury-...
Drewry's World Container Index - 30 May
www.drewry.co.uk/supply-chain...
Booming May rates mask the looming capacity bomb
container-news.com/booming-ma...
Ellerman City Liner relaunches China-UK service for peak season
theloadstar.com/ellerman-city...
Disruptions continue to drive tanker demand
www.lloydslist.com/LL1149301/...
Five-year-old Suezmax tankers worth more than a newbuilding
www.seatrade-maritime.com/tan...
Red Sea Disruptions Are Driving Up Carbon Emissions
www.marinelink.com/news/red-s...

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29 май 2024

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Комментарии : 483

@phmoffett 2 месяца назад

Sal, former SeaLand'er here. It's good to hear your expert commentary on maritime issues. I know of no other reliable source out there now. Thank you.

@user-vy7iw4lf5o 2 месяца назад

I never paid any attention to this stuff. Until now. Completely understandable on how everything impacts us.

@haameisanaei6481 2 месяца назад

Sal does phenomenal work, plus he has a great personality. World news starts from shipping news!

@DundalkTV 2 месяца назад

His depth of knowledge and his presentation are phenomenal as well. I have learned so much important information in a very short amount of time from this very likable fellow!

@dufrenesguideservice8398 2 месяца назад

Sal is a wealth if knowledge with anything seafaring. Thanks for all your dedication and hard work.

@user-kz8mq8co8i 2 месяца назад

Yes, Sal is not just reliable. He has a solid opinion and some of them you don’t hear. He attempts to just give you information and a little bit of other information.

@natopeacekeeper97 2 месяца назад

I loved your Wile E. Coyote comparison! I instantly had a vision of Wile E. dressed in a Houthi Army uniform pulling a missile out of a box marked ACME (cartoonists please take note) No other channel comes close to yours when it comes to all things maritime. Thanks for another great episode and analysis!!!!!

@kathleankeesler1639 2 месяца назад

#NUMEC

@HarryWHill-GA 2 месяца назад

Thanks Sal. If the Laax had actually sunk, it might have prompted the Iranians to relieve the constipation in the Bab-el-Mandeb that is the Houthis. Who knew ex-Laax works on shipping?

@fubarbrandon1345 2 месяца назад

Love the way government says Nothing to See Here...thanks Sal for all the great information.

@indylovelace 2 месяца назад

Sal, as I’m fixing dinner, I’m listening to your latest video and realized how much you’ve become part of my daily routine. I’ve been with you as a Patron since the beginning, yet I haven’t considered raising my initial contribution rate until now. I’ll encourage other Patrons to weigh the value you are receiving from Sal’s efforts and put your contributions in alignment with the value you are receiving. Remember, when we go to work, we are always looking for that next raise. It’s no different for Sal. He’s working a full time teaching job and doing this in the evenings and weekends.

@KentonGrimes 2 месяца назад

Sal, Thank you for the report. One area that I'd like you to consider is that the US demand spike is driven not by a real consumption uptick but instead is driven by the new Section 301 Duty increases that will go into effect in 90 days. This bump in demand is a push to stock up on inventory to mitigate the duty hike this and the equipment strain due to the Red Sea issues created a new black swan event (for freight buyers).

@normareed9007 2 месяца назад

Thank you so much for this very informative post. Im going to share this link with some of my clients. Handling international cargo, via seafreight, here in South Africa, together with our local woes, has become a nightmare. Just love your channel. ❤😊

@jockbeems4798 2 месяца назад

My company in North Carolina depends on shipping. Because of the mess in the middle east and the drought troubles in the Panama Canal, our backorders and canceled orders are skyrocketing.

@jm-je4tl 2 месяца назад

Have you increased prices on your product yet?

@rumrunner8260 2 месяца назад

Now we understand why High Voltage transformers coming from overseas have a 3 year wait! Supply chain is cooked!

@jfredq 2 месяца назад

America's corporate and political elite have reduced the country to where we no longer have the capacity to make what we use. FDR's one time Arsenal of Democracy is now an empty husk.

@stevenclever 2 месяца назад

This will be the norm for many Industries for quite a while 🤯😵‍💫

@para1324 2 месяца назад

Rumrunner when I read your reply it reminded me several years ago I spoke with three power line guys. They told me that we, (USA) no longer manufacture transformers because of the EPA. They said it had to do with the oil inside them. Is that true? If so that is messed up. Especially if things go south and we cannot get anymore when needed.

@user-ib4ut6vy2g 2 месяца назад

Make in the USA

@jerryw6577 2 месяца назад

@para1324 Production of transformer oil containing PCB compounds was banned in 1979 in the US. However, storage facilities, pumps, etc., may still contain traces of PCB's which contaminate new oil. California has the strictest limits. I suspect that US manufacturing costs are the primary reason we don't make large transformers here.

@MrTeff999 Месяц назад

I never gave shipping a thought until I discovered your channel. Thanks

@davidoldboy5425 2 месяца назад

Well done Sal, very succinct, this topic is definitely your expertise.

@phildf2447 2 месяца назад

Thanks Sal, I wish there were more channels just like yours. This is the most informative channel out there.

@robertkeable1627 2 месяца назад

Putting all ones eggs in a basket springs to mind.. Thanks for your hard work.

@anyopp1 2 месяца назад

As someone who worked directly for ocean carriers and now is a customer of a few, can’t agree more.

@keeppressing1760 2 месяца назад

As a merchant mariner I'm so glad I'm home right now the seas are getting worse

@Sil3ntB87 2 месяца назад

Thank you for your time and work to keep us informed.

@burkevinell 2 месяца назад

This is causing me headaches as an export trucker. My customer is using the cheaper carriers which are much harder on trucking. I have a booking now that we can't find out where to pick up equipment and it's all because they went with a cheaper container liner.

@GuyBlack-nf5dt 2 месяца назад

Very interesting. It is always a pleasure to learn the dynamics of a business you were not aware of

@gabrielh7718 2 месяца назад

Amazing report and insightful tid-bits especially toward the end of the video!

@800katie4U 2 месяца назад

Thank you Sal

@NewGoldStandard 2 месяца назад

Great content, as always. Thank you!

@stephanieparker1250 2 месяца назад

Sigh great, now it’ll cost me a fortune to get my Amazon cat litter.

@user-vy7iw4lf5o 2 месяца назад

Lol. I can’t get it delivered now!

@Frank-Thoresen 2 месяца назад

We use regular sand. Almost free but little bit more dirt on the floor near the litter box. Must replace the sand little bit more frequently. Think alternatives

@carlthor91 2 месяца назад

Costco!

@ThatOpalGuy 2 месяца назад

@@Frank-Thoresen yeah, let your cats outside and its not a problem. lol

@stephanieparker1250 2 месяца назад

@@carlthor91 yea that’s actually where I get my cat litter now lol it’s on sale often so I have it stock piled!

@gwiyomikim5988 2 месяца назад

Very informative report! And btw, was watching a NOVA re-run last night about the EVERGIVEN and literally said “I know that guy” when your face appeared. Fine job on that as well!👍🏼

@wgowshipping 2 месяца назад

Thanks!

@beverlyreiner-baillargeon6205 2 месяца назад

Fascinating Sal, absolutely fascinating 👍👍

@gaetanomontante5161 2 месяца назад

I am educated, but know nothing about shipping. It is refreshing to listen to you explain shipping events that are consequential to smooth operations in trade and economic growth. Than you for your efforts Sal.

@georgewyatt2924 2 месяца назад

Another excellent video. Campbell needs to give you a raise with the banners always in the background.

@russellhalleran9080 2 месяца назад

Well done! Extremely knowledgeable. Thank you for a Great video.🇺🇸🇺🇸

@Ailisch007 Месяц назад

Its impacting our international business and I didnt really understand why/whats happening. This video was so much more than what I could have hoped for, really well explain, thank you!

@adrianhudek9111 2 месяца назад

Forwarders have monopoly. Another thing is. If the shipping price rise, importers must increase prices. So goods get more expensive and govertment receives more money from taxes as everything gets taxed and higher the selling price, more taxes for governments

@pettahify 2 месяца назад

This is only true if consumption levels stay at the same level while the prices go up. Hell of an assumption you are making. Also note that the government will also have higher costs, hence a lot of the increased tax income you assume that the government is getting will just be used to finance the higher costs. I do not agree with the assumption you are maning. Increased prices will inevitably lead to decreased consumption.

@MrCorgh 2 месяца назад

You meant to say the Shipping Lines have a monopoly. They got absolutely massive in the COVID years, they now also do, air, land, warehouse, brokerage...

@aperturemichelle 2 месяца назад

better yet if it gets more difficult and manufacturing becomes even easier than the chances of companys bringing back some capacity to the markets thay sell in.

@ThatOpalGuy 2 месяца назад

four sentences in and you gave me one of the best laughs of my pre-birth day! Thanks for the early present, SAL!!

@wgowshipping 2 месяца назад

Happy birthday!

@chrismusix5669 2 месяца назад

Happy pre-birthday! 🎂

@Sugarmountaincondo 2 месяца назад

Great report as always. So many people still do not grasp exactly how much "stuff" gets moved by ships over the World's Oceans & Sea's and also the barge traffic on major rivers even like the Mississippi or Ohio River's here in the U.S. and about 7-9 in Europe & Asia. Most people just think of trains & tractor trailers because that is what they mostly see in everyday life. I know you're not a documentary type of guy, but I think if you could take the case of the Baltimore Bridge collapse and how it impacted the sugar processing plant and go from start-finish about the crop growing to harvesting and refining. loading onto ships, delivery, reprocessing, transshipment via rail/truck/barge, to warehousing-bagging facilities and transporting again to distribution facilities and show exactly how that 5lb. bag of sugar ends up on the grocery store shelf that everyone buys and why any disruption in the shipping end affects the average consumer. Maybe you could farm this project out to one of your loyal & knowledgeable subscribers to do this (NOT ME!) and then you could just add the voiceover and commentary. You could make it about container ships and use IKEA as the example, but not everyone is shopping for a new bedroom suite that utilizes containers. I don't know, you are smarter than me, but I do think that a Point A-Point B video would be a good learning lesson about just how important Global shipping really is to what the average person picks up off the shelf and could be readily shared on social media platforms.

@larrypatty8333 2 месяца назад

There really needs to be a series on how everything is moved. Ships, barges, trains and trucks. Tim B At Sea hauls products around by barge along the east coast and the gulf of Mexico. The Mississippi is the nexus around river barge traffic in the U.S. The Ohio, the Kanawha, the Cumberland, the Tennessee, the Missouri and other rivers all feed into the Mississippi. A large amount of agricultural products, coal, chemicals and refined petroleum products are shipped out from Baton Rouge and New Orleans around the world. It's amazing how many people think that Fedex and UPS just magically deliver items to their home and businesses.

@garygatto3410 2 месяца назад

Very nice video. Very informative.

@rhodesfunk2996 2 месяца назад

Thanks for the info Sal

@christianwitness 2 месяца назад

Interesting, as allways. Thanks.

@robjohnson8660 2 месяца назад

Thanks Sal

@susankerr9521 2 месяца назад

Thanks for another very informative video, Sal. Fifteen years ago, who would have thought that the Houthis could impact global trade?

@breft3416 2 месяца назад

I do feel for Bed, Bath and Beyond, but the idea that every item that you need to sell or whatever should be somewhere other than your own warehouse because it funds executive pay and stock support has reached a limit. Business no longer does business- it just chases its tail everytime the wind changes direction.

@debbiek7193 2 месяца назад

Love the information you share with us. 👍🙏😉

@akfinn5308 2 месяца назад

Thank You, Sal.

@jameshennighan8193 2 месяца назад

AWESOME STUFF As incitefull and informative as ever from Sal. The great thing about WIGOWS is that is is always thoroughly educational. We always learn something we likely never knew before. James Hennighan Yorkshire, England

@jamesallen8838 2 месяца назад

What’s happening to the Egyptian economy losing so much Suez income?

@WALTERBROADDUS 2 месяца назад

It's amazing this has been going on for months; and people are still obsessed about Egypt?

@ThatOpalGuy 2 месяца назад

good question

@tomhenry897 2 месяца назад

Biden borrowing Chinese money to give to Egypt

@Graphene_314 2 месяца назад

@@WALTERBROADDUS do you want a stabilizing middle eastern country to fall back down and have the resurgence of the muslim brotherhood?

@WALTERBROADDUS 2 месяца назад

@@Graphene_314 are we referring to Egypt? Egypt is in no position to do anything. If your expecting them to send an army to Yemen? that's not happening...

@davidedickjr 2 месяца назад

Massively informative. Outstanding.

@johncheresna 2 месяца назад

I did not recognize you on NOVA last night, at first, then I pictured you in a Hawaiian shit. ;-) Good job as always.

@johnd2058 2 месяца назад

The last time I was this early, the Viet Nam War was profoundly tilting trans-Pacific freight rates, founding "The East Asian Economic Miracle".

@seibertmurphy8849 2 месяца назад

Thank you for pointing out the opportunities for improved ship design, longer ships, sailing the Africa route.

@zakk2936 2 месяца назад

4:30 If you compare the size of the hole to the size of the catwalks over the pipes, that's a large hole. If you look at how far off their tracks the large steel cargo doors have been displaced, that's a long way. A lot of energy for just a kinetic impact and some burning fuel...

@stevenhietikko3269 2 месяца назад

Thanks!

@chiphill4856 Месяц назад

I fished offshore out of Charleston, SC two days ago and there were no less than 10 ships anchored at the sea buoy waiting to come in. Checked today and there's even more.

@jfredq 2 месяца назад

After years of gutting American manufacturing and sending the once American factories across the globe, the Houthis end up sending the financial world a lesson.

@ChrisRubeo 2 месяца назад

Great info, as always, Salvatore!

@DaveSCameron 2 месяца назад

What info? Same news everywhere..

@ChrisRubeo 2 месяца назад

@@DaveSCameron I just love getting it from Sal.

@altwoinchester4492 Месяц назад

The longer this goes on the more countries are going to question the ability of the United States to secure or protect the trade through their promised shipping routes.

@Stuff572 2 месяца назад

Sal, Thank you for the update on the ocean container world. I work in retail, and we are seeing a large increase in China to Seattle container cost for 40HQ. Arriving April $3700, in May $4,200, June $4800 and late June $5,900. July projecting to be greater than $7,000! I'd like more info on the subject if you get any greater insight. Thanks for your info!

@AmazingPhilippines1 Месяц назад

Thanks Sal. Watching from the Philippines.

@ArtStoneUS 2 месяца назад

Remind me again which country it is that builds most of the large ocean-going ships...

@kittichaic9591 2 месяца назад

Big fan here and extremely thankful for your content. A quick question, will there be any profound spillover to drybulk with these rises in container/tanker?

@georgewest2096 2 месяца назад

Another important show for us all.

@leaj3799 2 месяца назад

Food for thought as always. Had no idea Bed Bath and Beyond a casualty of Covid supply chain issues. I appreciate you opening my eyes to how events around the world have an impact in our daily lives due to shipping disruptions.

@1MrAngel1 2 месяца назад

Wasn't it mainly executive overspending for bonuses and stock buybacks?

@leaj3799 2 месяца назад

I honestly did not follow the closure too closely so I can’t say but wouldn’t be surprised if that played a role and the supply chain issue was something the C-suite did not account for. I’m making an assumption here that a lot of home goods are now produced in China or possibly Turkey when it comes to linens all of which needs to be shipped to meet seasonal expectations. Not discounting mismanagement but supply chain disruption probably brought it to light and certainly didn’t help any.

@leaj3799 2 месяца назад

So I looked it up and the stock buy backs definitely put them on the back foot and not adapting early enough to an e-commerce model also played a role. However I did find this quote in an article that mentions the role of supply chain in their demise: Consumers went to BBB looking for the national brands and just didn’t recognize or trust the private brands. Supply chain issues during the pandemic didn’t help,” she said. “BBB also got rid of their coupons, and using these coupons drove consumer traffic to the store. Without those coupons as a trigger to go shopping, foot traffic dropped.” So multiple factors at play. Sal did talk about ecomerce and de minimus shipments by plane having an impact currently- I can’t remember if that was this video because I don’t always watch them day of posting. BBB obviously just one example of economic impact changes in consumer habits and changes in shipping as a result can have.

@bradridge5644 2 месяца назад

❤ the Gilligan's Island plate

@joeblow5037 2 месяца назад

Mary Ann ftw!!!

@janicesteiner622 2 месяца назад

Can you comment on how the rate hikes on various shipping charges, repairs, port charges, etc have increased the rate of abandonment by ship owners? What's happening to crews being abandoned/stranded without pay is increasing, while the demand for trained mariners is increasing.

@user-bz2xr3wj5n 2 месяца назад

Best show on youtube

@anthonywilson-qk6bl 2 месяца назад

Sal like your thoughts, and that Gilligans Island sign in the background!.

@ljashansen 2 месяца назад

Brilliant!!!

@captnmark 2 месяца назад

If we brought back manufacturing to the US FRIEGHT RATES WOULD HAVE MINIMAL IMPACT. Shamefully the ivy league school grads outsourced our manufacturing overseas. Short sighted and only benefited their bonuses.

@ArtStoneUS 2 месяца назад

Where would you propose that the US manufacturers get their steel? China has more steel-making capacity than the entire rest of the world. Fairly recently, one more of the pig iron smelting operations in Gary Indiana was permanently shut down. The famous River Rouge steel complex south of Detroit was actually owned for a while by a Russian steel company. Cleveland is tearing down the ancient cranes used to unload iron ore (taconite) from Minnesota The federal government is going to shut down the coal mines on government land in Wyoming that are the one big remaining source of low sulfur coal for electric power generation in the Midwest Are we prepared to relax the pollution laws and call off the war on climate change in the United States to revive our industry?

@colinsbane 2 месяца назад

The Houthis did hit their target. The US Army couldn't even put up a Lego pier that would last more than about five minutes. How many of their ships got stranded during the fun?

@jakewillits4678 2 месяца назад

Our milirary needs to be reprimanded for their treasonous activities of aiding our enemies. Why are they building ports and feeding people who will later be the ones killing us. Thats not what the constitution says to do. It says aiding our enemies is treason

@jackkohler1392 2 месяца назад

Terrific job, Sal! The effects will start hitting by year end. This does not bode well for inflation.

@R3dp055um 2 месяца назад

As a resident of Buenos Aires, first I notice how few container ships there are on the east coast of South America, and then at 2:31 when you change to Megamax and there are absolutely none. I suspect if we were looking at bulk carriers there would be more.

@pppeeettteeerrr 2 месяца назад

I'm paying $6500 on a 40HQ Asia to LA this week. Up 250% from a year ago. 😢

@jm-je4tl 2 месяца назад

By what percent will you increase your prices?

@pppeeettteeerrr 2 месяца назад

@@jm-je4tl Our "retail price" for this commodity needs to increase 3% to break even with the freight cost increase

@thanhtong2281 2 месяца назад

How does this route be affected by what's going on in the Red Sea? It's straight shot across thr Pacific The correct question to ask is how many vessels have been canceled for this route. Then cross check how many vessels are currently docked at LA/LB port Asia to US East Coast also goes thru Panama Canal - avoiding Red Sea/Africa

@pppeeettteeerrr 2 месяца назад

@@thanhtong2281 that stuff is beyond my paygrade lol. But I've found every world event manages to manifest into a price increase. Ukraine. Israel. Yemen. Bridge. So who knows.

@volkerengels5298 2 месяца назад

Hubris. We all could have seen that with the "Evergiven" - given a week to stay in suez-canal.. :) The shock came half a year later.

@MrTeff999 Месяц назад

The extra shipping costs plus tariffs on Chinese goods is a double whammy.

@PecosChico 2 месяца назад

Wiley Coyote only goes after one bird and never succeeds.

@Pompomgrenade 2 месяца назад

🤬 That bird is mine👹... soon

@nhansen197 2 месяца назад

There are so many empty containers in the Pacific Northwest there's a big business in selling the containers to homeowners to be used for storage sheds. Some people are even building homes out of them.

@mackellyman5642 2 месяца назад

Usually rusted from Seawater...

@Mohawk21-oi1ni 2 месяца назад

I own a container from BALTIMORE! I did the metal work, rattle can REBUILT, and modded out with wheels and a Tommy gate for above ground storage and mobility.....

@Mohawk21-oi1ni 2 месяца назад

All done for practicing for building my new home on LAND

@mariespencer8668 2 месяца назад

Nice shirt!

@MrBook123456 2 месяца назад

good one

@HankHillspimphand 2 месяца назад

never thought about congestion. thats going to be a huge issue. when you spent the past 100 years building up a well oiled machine to make its as economic as possibe. its like an engine, a small oil leak is ok for a while but then other thing go wrong, when you put fresh oil back in it might not fix it. the damage is done.

@annagiesking5828 2 месяца назад

I'd be interested to hear your take on if the US should invest in deepining ports for these larger ships, and if so which ones might be a good canidates? Love learning about a whole new corner of the world from an expert, Thanka for what you do!

@jakewillits4678 2 месяца назад

Yes we should have deep ports. Thise ships would be coming over here if they could port. Clearly we only need like a couple on each coast and maybe 1 in texas idk. Im no expert thats just my opinion. We have a lot of ports in usa but the bigger the ship the harser it gets to port them anywhere for that matter. Costs a lot to keep dredging out too and making sure youre not compromising structures integrity around it. So it wouldnt be a bad idea to be more strategic with the bigger ones.

@ArtStoneUS 2 месяца назад

There was a news story yesterday that the US custom service is shutting down a number of Chinese air freight brokers

@mashdown3 2 месяца назад

On the bright side it should help local manufacturers.

@WALTERBROADDUS 2 месяца назад

Not really. You don't really see anyone who is going to start making stuff from scratch based on temporary economic situations.

@jakewillits4678 2 месяца назад

When it costs more to ship its like a double edged sword. The companies will make money but not if their ship is hit with a missle. Also its hard for us to export to india and import from india shen you have to take the longest route

@MarkRose1337 2 месяца назад

I could see them doing 25 containers wide as there are many cranes that size out there already. A ship 500 or 600 m long would be a sight to behold. Are there any docks big enough to build one?

@wgowshipping 2 месяца назад

That would be the limitation.

@CookieEspresso 2 месяца назад

I always wonder how life is like for workers on these giant tankers. And how life is like when they are stuck on there for days/weeks with delays. Must be a really tough job.

@SmallWonda 2 месяца назад

Is quite fascinating - You'd like to think (instead of pretending this isn't happening) that Maritime Powers would get together and enforce law & order on the high seas and bring these pirate's criminal enterprise to an END. But seems rather indicative of the times... Thanks for the focus - least someone has their eye on the ball!

@stephanieparker1250 2 месяца назад

Maybe with the prices going up, there will finally be a stronger combined effort by countries to stop these attacks.

@Frank-Thoresen 2 месяца назад

Or countries in Europe sees it would be cheaper to produce closer to home than in Asia. That has started to happen already.

@stargazer7644 2 месяца назад

Don't count on it.

@jakemocci3953 2 месяца назад

It would be cheaper to just stop supporting Israel

@WALTERBROADDUS 2 месяца назад

@@Frank-ThoresenNot really. You're never going to see a large-scale shift of consumer products. That's worse than trying to do it in America.

@WALTERBROADDUS 2 месяца назад

We are now at the end of May. The houthis have been at this for over 6 months now. Where do you see political will to do more? The US Air Force alone should have wiped out anything more than a bottle rocket by now. And the so-called escort program is a failure.

@PaulRoberts61877 2 месяца назад

why is it that long beach, Tacoma, other west coast ports accommodate MegaMax?

@kavemanthewoodbutcher 2 месяца назад

Ah, the proper uniform shirt has returned!

@esotericcommonsense6366 2 месяца назад

Last time I checked they downed 6 global hawks worth in excess of 100 million. So.

@WALTERBROADDUS 2 месяца назад

Pretty effective for cheap labor.

@Kana7782 2 месяца назад

Some of our ships are being delayed here in Los Angeles/Long Beach because of what’s happening in the Middle East

@Hybris51129 2 месяца назад

I wonder how this will effect trucking load rates? My father is a owner-operator and the rates that are being charged per a mile for most loads is well below the cost of operating. Also if the shippers do invest in longer container ships just how large can they realistically get before you start seeing structural issues?

@markseaman4750 2 месяца назад

One would think that Egypt is not happy with the loss of revenue from Suez tolls. At what point will they have had enough and do something about it?

@WALTERBROADDUS 2 месяца назад

For 7 months people have been barking about Egypt. Egypt has no political will. Nor has the military capability of doing anything about it any more than we do.

@tomhenry897 2 месяца назад

Can’t Houthis say all their targets are Jewish

@user-ib4ut6vy2g 2 месяца назад

May a good thing because it makes Domestically produced goods more competitive!

@bcluett1697 2 месяца назад

Imagine the engines on a 30K TEU ship. It's so crazy to think one day they just might link ships like trains with "locomotive" tugs. If the weather gets any more saucy they might need to make them submarines.

@bobbysenterprises3220 2 месяца назад

How does all this container shortage effect the used container market. Like for building sheds and houses from. I would guess it's more related to the scrap prices and the dollar / yen factor as well as transportation and delivery.l costs

@piotrberman6363 2 месяца назад

I am not sure that the growing proportion of container carrying capacity provided by ultra-large ships changes the price variability. It is more the question of (a) demand flexibility (b) supply flexibility. For example, egg demand in USA is not very flexible, while there are supply disruptions and egg prices go up 2 times and back down even though the supplies go down or up by less than 10%. But many people just have to have an egg or two in the morning and they will not change their habit for 50 cents each morning. With fix demand on deliveries by containers and an increase of routes by x percent, the demand on carrying capacity: how many container x day we need also increases by x percent, and if there was no surplus, customers got to bid for it so some will find the new prices too high. For example, I just ordered Russian buckwheat groats on Amazon, ca. 6USD/kg, but I could also order Canadian stuff, ca. 10 USD/kg, so with a certain increase with shipping cost, the demand for overseas buckwheat will go down. On the second though, perhaps the issue with ultra-large ships is that they may have less potential for increasing the speed than smaller ships.

@c0d3warrior 2 месяца назад

With shrinking cosumer demand thanks to rampant inflation, over-capacity might be an even bigger problem in the future than presented here. Skyrocketing costs for shipping don't exactly help in that regard either...

@jeffr6280 2 месяца назад

Hard to believe that someone from our government would provide false information to an industry expert. 🙄

@geoffmccoll4640 2 месяца назад

Sorting out how to build a relief aid pier in Gaza, any suggestions?

@charlesyen9486 2 месяца назад

Sal, as you mentioned this is going to be a longer problem world wide, how long do you think this will affect the shipping industry and do you think this is going to be on a much greater scale than what we had during the pandemic?

@tiendq 12 дней назад

Just hit the bell 😅

@clmdcc 2 месяца назад

I wonder if a new mega class container ship could be twice as wide, and eaither dock with left side access right side access to containers.

@capthanktx486 2 месяца назад

What is the effect on the Egyptian economy as income from canal passage plummets ?

@mcZED38 2 месяца назад

What impact are new increased tarriffs having? I've heard customers are rushing orders to get them before new tarriffs take effect.

@J4Jenius Месяц назад

Why no ships in Suez Canal 6/10/24 1:45pm CT?

@tianyi05 2 месяца назад

Looking at the components of the Drewy Index, transpacific rates (non mega container ships) have risen juat as fast as the Asia-Europe rates and all the increase is in the rates leaving China, rates going to China are flat. How much of this is to to short term demand as importers (US and Europe) of Chinese goods ramp up buying to build inventories in light of the rising trade tensions. Once inventories are build up as high as people are willing to carry short term demand will drop off. The Drewy index is spot and short term contracts, not annual contract rates. No one publishes those. Only 5 maybe 10% of goods are shipped on spot rates.