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Greg Miller

Greg Miller covers maritime for FreightWaves and American Shipper. After graduating Cornell University, he fled upstate New York's harsh winters for the island of St. Thomas, where he rose to editor-in-chief of the Virgin Islands Business Journal. In the aftermath of Hurricane Marilyn, he moved to New York City, where he served as senior editor of Cruise Industry News. He then spent 15 years at the shipping magazine Fairplay in various senior roles, including managing editor. He currently resides in Manhattan with his wife and two Shih Tzus.
Jun - 2022 -
07 June
Greg Miller

How new EU sanctions on Russia will shake up global energy trade

EU sanctions on Russian petroleum exports could have much more serious repercussions than earlier U.S. moves.

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05 June
Greg Miller

Container shipping jackpot continues: CMA CGM profits soar

CMA CGM, the world’s third largest liner company, froze spot rates in September-January, yet its revenue per container kept rising.

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02 June
Greg Miller

Ship fuel enters uncharted territory as prices hit new wartime peak

It took longer than expected, but the IMO 2020 investment pitch — save on ship fuel by installing scrubbers — is paying off big time.

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01 June
Greg Miller

Ports get ‘much needed respite’ as container-ship traffic jam eases 

The number of container ships waiting off Los Angeles/Long Beach recently sank to 25, the lowest tally since July 2021.

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May - 2022 -
31 May
Greg Miller

US exports even more oil as domestic gasoline and diesel prices spike

Tankers are loading up on American crude, diesel and gasoline exports. Can the free market withstand political pressure?

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25 May
Greg Miller

Russia tanker business is alive and well. Oil exports ‘remain strong’

Without sanctions, tankers will keep loading Russian oil. ‘We’re not taking a moral high ground,’ says Frontline’s CEO.

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Greg Miller

Risky business: How shipping boom, war and COVID impact safety at sea

Safety stats show resilience despite aging ships, cut corners on maintenance and rising pressure on seafarers.

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23 May
Greg Miller

Can tanker imports save drivers from spiking summer gasoline prices?

East Coast gasoline inventories are alarmingly low. Gasoline imports from Europe could help but may not be enough to fill the gap.

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20 May
Greg Miller

Gimme shelter: Shipping stocks still rising amid Wall Street storm

It has been a terrible year for the stock market, a great one (so far) for product tanker and dry bulk shipping stocks.

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18 May
Greg Miller

Blockbuster container shipping results collide with sinking sentiment

Zim continues to outpace growth rates of rival container shipping lines, but investor demand fears are on the rise.

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16 May
Greg Miller

Container shipping rates: Still sky high but falling back to Earth

Container shipping spot rates are easing, at least temporarily, and far fewer ships are stuck waiting off U.S. ports.

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12 May
Greg Miller

Has the peak of container shipping’s epic boom already passed?

Ocean carrier Hapag-Lloyd sees consumer demand and spot rates slipping, with market highs in the rearview mirror.

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11 May
Greg Miller

Russia’s isolation deepens as shipping lines make final port calls

First came a pause in cargo bookings to Russia. Now, ocean carriers have halted almost all of their Russian port calls.

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09 May
Greg Miller

Shipping stocks take another beating, sinking by double digits

Shares of ocean shipping companies have given back much of their 2022 gains after another big sell-off.

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06 May
Greg Miller

The world is ‘crying out for diesel.’ Product tankers could win big

The pain at the pump keeps getting worse. Bad news for consumers. Good news for owners of refined product tankers.

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04 May
Greg Miller

China lockdowns are not causing shipping chaos, say liner CEOs

‘Right now, we don’t see a huge buildup of volumes because of the closedown in Shanghai,’ reports Maersk CEO Soren Skou.

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03 May
Greg Miller

Demand for shipping containers is falling. Transitory or turning point?

New container prices, new production, lease rates, lease durations and used container prices are all down.

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02 May
Greg Miller

How war, shipping boom, China lockdowns impact Panama Canal

Container-ship transits of the Panama Canal are up as liners favor the East Coast. LNG transits are down as U.S. gas heads to Europe.

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Apr - 2022 -
26 April
Greg Miller

Despite rising risks, shipping lines on track for another record year

New reports from Maersk, Kuehne+Nagel and Drewry point to an ongoing boom for container shipping lines.

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25 April
Greg Miller

Shipping stocks in crosshairs as fears mount on China, war, inflation

Retail stock pickers seem increasingly nervous about shipping. Shares of dry bulk, tanker, container and mixed-fleet owners all fell.

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21 April
Greg Miller

Shanghai lockdown is not causing global supply chain chaos (yet)

The Shanghai lockdown isn’t following the same supply chain script as the big Chinese disruptions of 2020 and 2021.

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20 April
Greg Miller

How COVID transformed trans-Pacific container shipping

The trans-Pacific container trade is vastly different than pre-pandemic, with more ships, more competition, and a new leader: Maersk.

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19 April
Greg Miller

Noose tightens on Russian economy as import options dwindle

Russian imports via ocean, truck, rail and air are now being simultaneously squeezed. Shipping data shows growing pressure.

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14 April
Greg Miller

Commodity shipping stocks are trouncing Dow transport average

Tanker, bulker and LNG shipping stocks rise as domestic freight and container stocks face pressure.

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13 April
Greg Miller

If globalization is really over, what happens to supply chains?

The future of global supply chains is in flux. The pandemic was a game changer. Then came the war.

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12 April
Greg Miller

As transport stocks sink, Los Angeles port volumes soar

America’s largest container port, Los Angeles, just posted the best March and best first quarter in its history.

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08 April
Greg Miller

Container shipping at the crossroads: The big unwind or party on?

The debate heats up on whether this is the beginning of the end of container shipping’s bull run.

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07 April
Greg Miller

$4.2B shipping ‘mega-merger’ would create ‘supersized tanker behemoth’

The biggest deal in tanker shipping history would merge Euronav and Frontline, but consolidation is no panacea.

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Mar - 2022 -
30 March
Greg Miller

Retail boss warns on supply chain, likens demand risk to ‘Big Short’

RH confirms sharp drop in demand since Russia-Ukraine war and sees no supply chain relief.

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29 March
Greg Miller

Ship charter rates still ‘spectacular’ but war could tip the balance

Charter rates hold steady at their peak as the seemingly neverending container shipping boom continues.

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25 March
Greg Miller

Biden-EU energy pact: LNG shipping game changer or wartime hype?

U.S. LNG cargoes were already flooding toward Europe months before the new deal. Real progress seems years away.

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24 March
Greg Miller

War and shipping stocks: Containers, dry bulk, product tankers up

Some shipping shares are rising because of war tailwinds. Others are rising despite war headwinds.

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23 March
Greg Miller

Why Russia-Ukraine war has not ignited crude tanker rates (yet)

Cost of shipping crude oil remains cheap, but tanker rates could jump if the war doesn’t end by fall.

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21 March
Greg Miller

Armada carrying US LNG heads to Europe, but it won’t be enough

Ship-position data shows a fleet of LNG carriers en route to Europe amid scramble to bolster energy supply.

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18 March
Greg Miller

East Coast ports about to get slammed by a lot more ships

Congestion could go from bad to worse as liners steer a record number of container ships toward East Coast ports.

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16 March
Greg Miller

Is this the calm before California ports’ next cargo storm?

California ports make progress on bottlenecks, but Chinese lockdowns could spur “hockey stick” import rise.

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14 March
Greg Miller

What China COVID spike, massive lockdowns mean to shipping

COVID lockdowns haven’t closed Chinese ports yet. If they do, U.S. importers face “shockwave” of higher rates and delays.

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11 March
Greg Miller

How container shipping’s historic boom funded a $2B cruise bailout

COVID has been great for container shipping, terrible for cruising. What does this mean to MSC, which is big in both?

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09 March
Greg Miller

Shipping mints even more money as supply chain squeeze drags on

Liner company Zim expects to rake in a billion dollars more this year than in record-setting 2021.

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07 March
Greg Miller

How invasion of Ukraine could ease shipping logjam off US ports

Invasion and price spikes could destroy demand, weaken consumer confidence and curb cargo volumes, warns BIMCO.

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04 March
Greg Miller

Ship fuel spikes to historic $1,000/ton mark as war fallout worsens

The cost of the fuel consumed by the world’s commercial ships has skyrocketed — and it’s still rising.

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02 March
Greg Miller

Tanker shares jump as war rages; other shipping shares mixed

Tanker stocks favored by retail traders post big gains, while most container and dry bulk stocks hold steady.

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01 March
Greg Miller

Shipping isn’t waiting for sanctions. It’s refusing to move Russian cargo

Container lines and tanker owners rapidly and preemptively suspend business with Russia.

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Greg Miller

Back to the futures: New era of container freight hedging begins

Container lines, shipowners and shippers have a new way to navigate the market chaos: cleared freight futures.

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Feb - 2022 -
27 February
Greg Miller

Just how extreme is China’s lead in the container port business?

The container port business is booming and the big are getting bigger, particularly in China.

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23 February
Greg Miller

Supply chain whack-a-mole: West Coast eases, East Coast worsens

There are now more container ships waiting off East and Gulf Coast ports than there are off Los Angeles/Long Beach.

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22 February
Greg Miller

Shipping braces for impact as Russia-Ukraine crisis intensifies

Tanker and dry bulk trades could be disrupted; container shipping faces heightened risk of cyberattacks.

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17 February
Greg Miller

How the pandemic has propelled maritime tech deals to new peaks

The more ocean shipping is in the news, the more attention it gets from tech founders and investors.

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15 February
Greg Miller

Supply chain signals: New-container prices and production finally peak

After last year’s historic run-up, factories are producing fewer containers and pricing of new boxes is down.

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14 February
Greg Miller

GSCW chat: Shipping stocks surged — but haven’t peaked

Jefferies analyst Randy Giveans maintains that container shipping stocks still have a lot more room to run.

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Greg Miller

GSCW chat: Shippers face big risks from trans-Pacific contracts

Xeneta CEO Patrik Berglund explains how carrier negotiating power has changed the annual contracting equation.

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Greg Miller

New wave of contracts will lock in much higher shipping rates

Long-term contract rates are at record highs. Shipping lines hold all the cards at the negotiating table.

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09 February
Greg Miller

Shipping giant Maersk could rake in $50 billion over just two years

COVID container boom continues: Maersk may earn even more this year than in record-trouncing 2021.

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08 February
Greg Miller

Glimmer of hope: Has the ship gridlock off ports finally peaked?

The number of ships waiting off Los Angeles/Long Beach fell 23% over the past week.

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07 February
Greg Miller

Price of ship fuel surging, poised to eclipse all-time high

The cost of ship fuel looks like it’s about to topple records set in 2012 and 2008.

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03 February
Greg Miller

Cartel? Liner competition increased as trans-Pacific rates spiked

Accusations fly as shipping lines rake in billions, but the numbers imply more carrier competition, not less.

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02 February
Greg Miller

Supply chain chaos and port gridlock could drag on into 2023

Barring an economic downturn, U.S. demand could still be squeezing ports a year from now.

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Jan - 2022 -
31 January
Greg Miller

Container shipping has greatest quarter ever — with more to come

Carrier profits are reaching previously unimaginable heights as supply chain disruptions supercharge gains.

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27 January
Greg Miller

Los Angeles imports slump further as congestion throttles volume

SoCal imports suffering multimonth slide, not because of falling demand, but because of supply chain bottlenecks.

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26 January
Greg Miller

How low can tankers go? Analysts slash rate forecasts (again)

Shipping analysts rethink outlooks on crude and product tanker rates: already grim market appears even grimmer.

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24 January
Greg Miller

How Russian invasion of Ukraine could impact ocean shipping

An attack on Ukraine could hike costs for shipowners and cargo shippers across the globe.

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20 January
Greg Miller

‘Tricky time’ for shipping stocks: Course corrections ahead?

Could container shipping and tanker stocks end 2022 very differently than they began it?

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18 January
Greg Miller

Tanker, bulker, LNG rates drop. Container rates hold near top

For bulk commodity shipping, a rough start to the year. For container shipping, the profit bonanza continues.

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12 January
Greg Miller

Imports take ‘dramatically longer’ to reach US as bottlenecks bite

No letup yet: It’s taking even longer for Asian exports to get across Pacific to American buyers.

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10 January
Greg Miller

As liner stocks keep rising, other shipping shares are stalling

Shares of Zim are flirting with a new peak while shares of ship-leasing, dry bulk and tanker companies lose ground.

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07 January
Greg Miller

New year brings new all-time high for shipping’s epic traffic jam

Popular interest in the supply chain may have faded, but the pileup of ships waiting offshore keeps growing.

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05 January
Greg Miller

New index measures supply chain pressure — and it’s really high

New barometer from NY Federal Reserve highlights how extreme supply chain crunch has become.

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03 January
Greg Miller

Container shipping’s 2022 outlook: The bulls, bears and wild cards

How could the consensus — that container spot rates will remain extremely high — be wrong?

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Dec - 2021 -
29 December
Greg Miller

Container shipping heads to court: Who’s suing whom?

MSC sues Deere, patent owner sues six shipping lines, box-overboard cases pile up, and Hanjin’s ghost tries to collect.

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27 December
Greg Miller

2021’s top shipping stories: From Ever Given to epic California port pileup

There has never been a year like this for container shipping. Here are the biggest stories of 2021.

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23 December
Greg Miller

By the numbers: Shipping’s unparalleled year in 10 charts

After an exceptional year for ocean shipping, the data points to more action ahead in 2022.

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21 December
Greg Miller

LNG shipping’s wild ride: Record, plunge, new record, new plunge

Spot rates topped $300,000/day, sank to teens, rose to over $360,000, now back near $100,000.

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17 December
Greg Miller

Escape from LA: More container business flees to East Coast

Carriers and shippers are turning to East Coast ports as Los Angeles/Long Beach remains mired in congestion.

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15 December
Greg Miller

Los Angeles import volume sinks as shipping traffic jam worsens

Import demand remains exceptionally strong but volumes through America’s largest port are falling.

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Greg Miller

DSC chat: Monroe sees supply chain squeeze ‘through most of 2022’

SoCal port crunch “has really become as bad as it’s ever been,” reports industry veteran Jon Monroe.

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13 December
Greg Miller

About that rate relief … ocean shipping costs are rising again

After brief reprieve, trans-Pacific shipping rates head back up, pointing to ongoing supply chain pressure.

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12 December
Greg Miller

Shipping on Wall Street: Is it better to be a pure play or jack-of-all-trades?

Some public shipowners are turning toward more diverse fleets. Others are moving in the opposite direction.

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08 December
Greg Miller

Biden-backed plan to clear California port congestion stalls

Controversial plan to charge for containers lingering on terminals keeps getting delayed. Yet containers still linger.

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07 December
Greg Miller

COVID-era shipping stocks: The (super) good, the bad and the ugly

Container, dry bulk and tanker stocks are down from recent highs. Temporary setback or something more?

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05 December
Greg Miller

It’s official: 96 container ships are waiting to dock at SoCal ports

Marine Exchange now counts ships waiting farther out to sea, confirming just how big the backlog really is.

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01 December
Greg Miller

Ships in California logjam now stuck off Mexico, Taiwan and Japan

Despite claims to the contrary, the ship backlog is not getting smaller. Vessels are waiting on both sides of the Pacific.

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Nov - 2021 -
29 November
Greg Miller

Omicron threatens tankers but could extend container shipping boom

Here’s how omicron variant could impact tanker, container and dry bulk shipping rates.

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23 November
Greg Miller

California ship pileup still piling up — but out of sight, over horizon

Record number of container ships waiting but they’re harder to see, as new plan spreads queue across Pacific.

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22 November
Greg Miller

Ship fuel price highest since 2013, ‘scrubber spread’ widens

Price of low-sulfur fuel is rising faster than high-sulfur fuel. Ships with scrubbers stand to gain.

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18 November
Greg Miller

Congestion, falling arrivals hit Southern California import volume

Ship arrival data confirms seasonal surge to Southern California has ebbed — even as port congestion has risen.

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17 November
Greg Miller

How to make a billion when your ships are stuck at anchor

Zim’s profits are still going up — way up — despite more vessels getting snared in West Coast port gridlock.

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15 November
Greg Miller

Last-minute reprieve: LA/LB delays pulling trigger on congestion fee

Los Angeles and Long Beach hold off on charging highly controversial fee on import containers.

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12 November
Greg Miller

Hapag-Lloyd rakes in $3.9B in Q3, sees no plunge in rates yet

Rates expected to remain strong into 2022, fallout from new ship deliveries in 2023-2024 to be muted.

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11 November
Greg Miller

‘Gobbling up’ cargo: How crude tankers cannibalized product tankers

Crude and product tankers may be totally different markets, but 2021 proved how connected they are.

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10 November
Greg Miller

Clock ticks closer to midnight for overwhelmed California ports

Just five days before emergency SoCal container fee is set to begin, offshore traffic jam reaches new heights.

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Greg Miller

Shipping’s extreme consolidation could prolong supply chain pain

A small number of non-U.S. entities determine vessel and container levels for U.S. ocean supply chains.

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07 November
Greg Miller

After container ships sped up, why did they just tap on the brakes?

Port congestion forced container ships to go faster. Congestion remains extreme, yet ships are slowing down.

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04 November
Greg Miller

Crude tankers still bleeding cash. Stars aligned for 2022 recovery?

Crude-tanker owners continue to pile up huge losses, but hopes are high for next year.

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03 November
Greg Miller

It just got cheaper to rent a container ship — now only $125,000/day

California congestion hits charter rates as ship operators waste millions waiting to get to terminals.

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02 November
Greg Miller

Shipping shares in sea of red as broader stock market rises

Virtually every U.S.-listed shipping stock fell on a day that the S&P 500 hit a record high.

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Greg Miller

Shipping giant Maersk continues buying spree after best quarter ever

Maersk expands air business after earning more in a single quarter than in any prior full year.

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Oct - 2021 -
28 October
Greg Miller

No relief from ‘ridiculously expensive’ container shipping rates

Trans-Pacific container shipping rates remain exceptionally strong despite a dip earlier this month.

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27 October
Greg Miller

Shippers fear ‘catastrophic’ fallout from ‘crazy’ California port fees

Biden-backed plan to tackle container congestion could make logjam even worse, critics believe.

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26 October
Greg Miller

Are historically high shipping rates causing consumer price inflation?

Media coverage increasingly links consumer price inflation to container shipping and supply chain chaos.

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24 October
Greg Miller

Import boom side effect: More container-ship accidents in Pacific

It’s no coincidence that spiking trans-Pacific trade coincides with more boxes overboard and more shipping accidents.

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