Tanker Rates Decreasing In Spite of New Restrictions
An EU ban on seaborne imports of Russian crude went into effect on December 5th, 2022, in hopes that this market-altering event would hike the crude tanker rates. Not only has there been no sign of rate hikes almost 30 days later, but tanker rates have gone down double digits since the Russian restrictions went […]
Container Volumes Reach Pre-Pandemic Levels
After two years of disruptions creating a flux of cargo and inventory, the Port of Savannah operators are finally able to breathe. A recent report has stated that the container trade has reduced in demand and volume, affording port employees a nice change of pace. “Container trade at U.S. ports is returning to a more […]
Fall Season Profitable for East Coast Ports
According to the Georgia Ports Authority (GPA), Fall shipping season has been extremely profitable for U.S. ports on the East and Gulf coasts. Ship berthing time has gone down, new and expanding businesses are utilizing the anchorages, and increased capacities coming online next year have added to the attractiveness of greater efficiency. GPA recently reported […]
What is the Driving Factor Behind Container Price Gains?
Freight rates, in addition to other rates across several industries, have been fueled by the invasion of Ukraine by Russia, as well as a global uptick in demand in a post-Covid economy for diesel, gasoline, and jet fuel. Gas prices are coinciding with a profit boom for the owners of tankers that carry petroleum products. […]
