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20May2021 Midday Update: Wall Street Off Session Highs And Trending Lower, DOW Up 214 At 1 ET, Nasdaq Up 1 5%, Qatar Cuts LNG Prices And Expands Into Asian Spot Market

20May2021 Midday Update: Wall Street Off Session Highs And Trending Lower, DOW Up 214 At 1 ET, Nasdaq Up 1 5%, Qatar Cuts LNG Prices And Expands Into Asian Spot Market
econintersect.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from econintersect.com Daily Mail and Mail on Sunday newspapers.

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Inflation alert: Container shipping rates just spiked (again) | Hellenic Shipping News Worldwide

The headlines last August and September blared: “Trans-Pacific rates are going crazy.” “Rates are on fire.” “Records shattered.” Oh, what cargo shippers would give to pay the rates they paid eight or nine months ago. Those earlier records were repeatedly shattered. It just happened yet again. “Non-stop demand of ocean freight and the resulting delays .

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Port Of LA Volumes Are Off The Charts

Port Of LA Volumes Are Off The Charts
zerohedge.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from zerohedge.com Daily Mail and Mail on Sunday newspapers.

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Why this tanker shipping depression is different from past slumps | Hellenic Shipping News Worldwide

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 “the worst this business has seen for more than 30 years,” conceded Svein Harfjeld, co-CEO of DHT (NYSE: DHT) on his company’s quarterly call on Wednesday.

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No relief: Global container shortage likely to last until 2022 | Hellenic Shipping News Worldwide

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 everything is rising.” Many months after the container shortage first emerged, how bad does the problem remain?

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