What The Ship? Global Maritime Economy, Russian Oil, Grain/Fertilizer, Rising Shipping Costs & Rust
What's Going on With Shipping?
May 2, 2022
In this episode, Sal Merocogliano - former merchant mariner and maritime historian at Campbell university - examines the Top 5 Maritime Stories as of May 2, 2022. First, is is time we look at the Global Maritime Economy differentially? In particular, should we look at supply vice demand as the limiting factor. Second, how has sanctions against Russian oil, the demand for American oil, and transportation of said Russian oil to new markets impacting the shipping arena? Third, with the first food shipment of Ukranian crops out of Romania, what is the prospect for American exporters of agricultural products after the major ocean carriers have refused to take their bookings 31% last year? Fourth, the rising costs of ocean shipping can lead to higher inflation, but will reliability of service see an uptick? Finally, why is it US Navy ships look so rusty and does it matter?
#supplychain #UkraineRussiaWar #COVID #container #BlackSea #shipping
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00:00 Introduction & Updates
01:15 1. Global Maritime Economy
06:43 2. Russian Oil
11:03 3. Grain/Fertilizer
17:11 4. Rising Shipping Costs
21:55 5. Rust
1. The Way We Look At The Global Economy Needs To Change
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How war, shipping boom, China lockdowns impact Panama Canal
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Suez Canal Records Highest Monthly Revenue In April
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Viewpoint: China COVID policies to squeeze flow of European exports to North America
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2. EU To Propose Phasing Out Russian Oil By The End Of The Year
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More Of Europe’s Crude Supply Is Coming From Deep In The Heart Of Texas
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BIMCO: Russian-to-China Crude Tanker Trade Has Nearly Doubled
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Traders Using Costlier Smaller Tankers to Move Russian Oil to China
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3. First Ship With Ukrainian Corn Departs Romania
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Commodity Traders: Secretive, Crafty And Utterly Necessary
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US perishables shippers are struggling to keep their markets alive
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Food Protectionism Hits Ports With Export Bans
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4. IMF: Rising ocean shipping costs to bring wave of higher prices
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Xeneta CEO, Berglund: “It’s a position of power the carriers have no desire of relinquishing”
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Schedule reliability improves again in March
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Shippers still favouring contracts, despite short-term spot rate discounts
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5. Top Navy Admiral Wants Rust-Free Ships
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