Amid a tight supply and demand situation, prices for private maritime security guards onboard have shot up dramatically this year, rekindling the era of Somalian piracy more than a decade ago. The disruption brought about by the Houthis’ campaign to target more than 70 merchant ships over the past...
https://splash247.com/costs-for-armed-guards-onboard-rocket/
Oil prices continued to rise in February and March with WTI increasing from $76.49 on February 23 to $80.63 on March 22. Over the same period, the OPEC basket price increased from $82.23 to $85.56. Traders pointed to OPEC+ continuing its production cap, to improving economic conditions in China,...
Having spent the National Party Congress talking up the prospects of artificial intelligence and the digital economy, China’s government returned to form afterward and opened the credit spigots as wide as possible, flooding the property and industrial sectors with cheap cash and driving economic...
https://splash247.com/a-sense-of-euphoria-sweeps-through-dry-bulk/
The Red Sea shipping crisis entered a dark new chapter with the first seafarer deaths. The Houthis fired a missile on March 6 at the True Confidence, a 13-year-old, 50,448 dwt bulk carrier. The missile struck near the stern of the vessel. Three crew – a Vietnamese and two Filipinos – died, and two...
Are we, the media, guilty of using the term black swan a tad too much? One encyclopaedia describes a black swan event as “unexpected and therefore difficult to prepare for but often rationalised with the benefit of hindsight as having been unavoidable”. A quick check of the Splash archives and I’m...
After US containerised imports were up 9% in January, they rose 6% in February to 2.14m teu, a higher number than most pundits expected. This points to continuing anti-gravitational energy in the US economy. Reflecting the recovery from the pandemic, the year-on-year growth in February’s imports...
https://splash247.com/container-shipping-adjusts-to-new-reality/