If you know what you want for Christmas and see it, buy it now.
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?
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?
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
$145000 per day with 5060 containers on the ship is about $29 per day per container. Guess that’s a lot.
The recovery is worse than the crisis.
Crazy panic.
I won’t play.
flr