Posted on 06/03/2021 12:39:15 PM PDT by blam
If you know what you want for Christmas and see it, buy it now.
https://ycharts.com/indicators/container_shipping_rate_for_1100_teu_vessels
Container Shipping Rate for 1100 TEU Vessels
17000.00 USD for Wk of May 28 2021
Value from 1 Year Ago 5500.00
Change from 1 Year Ago 209.1%
Frequency Weekly
I do know but sadly freedom does not come by ship nor Fed X.
Paging Ragnar Danneskjold....
Source :
https://tradingeconomics.com/commodity/baltic
"Baltic Dry increased 1,230 points or 90.04% since the beginning of 2021, according to trading on a contract for difference (CFD)
that tracks the benchmark market for this commodity.
Historically, Baltic Exchange Dry Index reached an all time high of 11793 in May of 2008."
Container ships costs rising? Or the dollar swirling the toilet?
griswold3 :" Value from 1 Year Ago 5500.00
Change from 1 Year Ago 209.1%
Frequency Weekly
Wasn't the previous "high rate" of May 2008 at 11793,
somewhere around the great fuel shortage of 2008 ?
I am in a business that relies on transport. Unfortunately, most of the “American” companies outsource their stuff to Asia, repack it and slap a USA label on it. Prices for a containers out of China is running close to $5000 per. Which is up 400% from a year ago. They are running out of containers. Seriously.
We don’t make enough stuff here to ship them back. It’s not worth it to them to ship empty containers back - at least not yet. So we have 100’s of miles of containers just sitting around. Maybe they’d make decent housing for the homeless.
Dockworkers are playing the teacher’s union game. Social distance. Half staff. Dozens of ships are docked off ports waiting to be unloaded. Slowdown. (quo ELO soundtrack). They want more concessions. Like teachers unions.
If you are in export business, you can get a good deal. If you want to import, you gotta wait. Priority goes to high margin goods who can afford to pay to jump the line.
iPhones, TVs, gaming consoles. They get shipped promptly
Commodities and input materials for domestic manufacturers, cheap stuff, just wait. It’ll arrive before 2023. And cost you 20%-30% more. But it’s coming.
What the hell happened to all of those ships that were sitting at anchor off Singapore?
Sitting off the coast of LA and Long Beach?
Guy I know here in town bought a bunch of empties. He setup a storage business on a vacant lot he owned, and sells extra containers to the public. He's doing really well right now.
Shipping container homes are all the rage with the millennials right now. I have two friends that are building homes with them they are booked solid until this time next year. I’m thinking of digging up space for one or two and covering them with dirt so as to have an underground man cave set up.
Just don’t put the dirt on the container itself! Them bad boys been known to buckle under dirt. I’d drop a few several feet underground, encased in a concrete barrier/box, with walls say, 3 - 4 foot thick? Maybe a nice ventilation system? :D
When COVID first hit, the Baltic Dry Index was...just a couple of % of what it had been before the crisis.
I wanted to back up the truck, but they halted trading, so I forgot about it.
By June or July, they resumed trading at $300/share; it was still a 4-bagger after that, but I’d forgotten about it.
If I could have bought the amount I wanted when Covid hit, I’d have been retired right now.
Ruckert Terminals in Baltimore put out a letter last week stating they are not accepting ANY new inbound shipments in the month of June. This is one of the largest break bulk facilities on the east coast.
In addition, we are hearing that Cape Canaveral is full to capacity with lumber right now.
My company ships 40’ containers of lumber from northern Europe to the US. Container costs and boat space has tripled in the last 6 months.
“Container ships costs rising? Or the dollar swirling the toilet?”
Read the article ...
Beat inflation by outrunning it:
Nordic Atlantic Tankers
Just one example of many. It’s volatile so requires strong stomach. Dividend around 10% and owners recently were buying their own stock.
dint they send a crapload of them to the breakers over the last few years?
or was that super tankers
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