This is nothing short of genius. I congratulate all the people involved in improving the supply chain. They are impressive in their knowledge of global resources.
If any of these recommissioned ships are carrying precious food around the world, please be certain they are not contaminated with poisons from previous use.
By Elizabeth Low
Russia’s invasion of Ukraine (click here) has supercharged one segment of the shipping market, with soaring freight rates prompting companies to rush to purchase rather than rent vessels.
Trade curbs on Moscow have upended fuel flows, locking up more ships on long-haul routes, while others handle Russian shipments. That’s tightened tanker supply, lifting freight costs and setting off a scramble for used vessels, with the price of so-called clean tankers jumping as much as 60% this year, according to VesselsValue.
Commodity markets, and the shipping trade that’s vital for transporting materials around the globe, have been upended Europe’s worst military crisis since World War II. While freight rates have recently eased from their highs, ship owners are still likely to fetch healthy earnings for the rest of the year, according to Anoop Singh, head of tanker research at Braemar ACM Shipbroking.
With demand outstripping availability, buyers have been willing to bid significantly higher, shipbrokers told Bloomberg. Given a new tanker takes up to three years to order, companies hoping to cash in on the rally are mostly limited to existing vessels, they said....
