First came a pause in cargo bookings to Russia. Now, ocean carriers have halted almost all of their Russian port calls.
The International Chamber of Shipping issued a warning of the human capital component — Ukrainian and Russian seafarers are now locked out.
Port congestion forced container ships to go faster. Congestion remains extreme, yet ships are slowing down.
Container ships named The Brady, The Belichick and The Gronk just sold for six to eight times their purchase price, spurring a nine-figure payday.
Demand for container ships is so extreme that some operators are paying unprecedented sums to rent them.
Container ships in the congestion-plagued trans-Pacific trade have stepped on the gas, with some vessels now topping 20 knots.
Is a recovery near for VLCC crude tanker spot rates? Not yet, warns an an analyst at VesselsValue.
Ocean carrier sees debt upgrade thanks to hitting cost synergy targets and fleet’s better fuel efficiency will help save operating expenses.
