Red Sea Chaos: Freight Rates Soar As Port Congestions Worsen!
Luca Moretti, an accomplished sailor and marine journalist from Genoa, Italy, has a lifelong passion for the sea that has defined his career. With a degree in Marine Journalism from the University of Genoa, Luca is celebrated for his vivid and insightful storytelling. His work captures the excitement of sailing and the rich maritime traditions of Europe, making him a well-respected voice in the sailing community. When he’s not writing, Luca can be found exploring the Mediterranean’s picturesque coastlines and competing in regattas, always seeking new adventures on the open water.
Sal, your shipping reports have expanded my horizons. But closer to my boyhood home, did you hear about the Ecuadorean tug that couldn't get the scrap ferryboats out of Elliot bay? Washington State Ferries is in disarray and it may be a proper story for you and your network. Tug not their fault, they say,
Just hit the bell 😅
Didn't realize how bad this was, GO HOUTHIS!
Trumpet 2. Disruption of global shipping and trade. 2024
What do you think about MPC Shipping?
Do you think prices will stabilize by August?
Lol a lot of ports already closed bc they are not equipped for these massive ships and existing ports are already struggling when these sky scrapers on water land, and you tell me they want to build even bigger ones? What amazing business geniuses that we have there dealing with the entire global logistics of trade. (Facepalm emoji)
Thanks Sal. Watching from the Philippines.
Why no ships in Suez Canal 6/10/24 1:45pm CT?
I fished offshore out of Charleston, SC two days ago and there were no less than 10 ships anchored at the sea buoy waiting to come in. Checked today and there's even more.
I wonder if Canada built 7 nuclear powered mega icebreakers and ran the northern passage how much energy the world would save in shipping.
Let the Houthies continue to threathen shipping in the red sea. Cargo there is just garbage from China anyway, which we shouldn't buy in the first place.
The extra shipping costs plus tariffs on Chinese goods is a double whammy.
I never gave shipping a thought until I discovered your channel. Thanks
Thanks!
The longer this goes on the more countries are going to question the ability of the United States to secure or protect the trade through their promised shipping routes.
This is the reason Mexico is beefing up the roads and ports $$$$$$$$$$
Keep talkig
What a complete mess everything is.
Ray Charles saw this coming.
The democRatic party is get American's ready for Communism.
Its impacting our international business and I didnt really understand why/whats happening. This video was so much more than what I could have hoped for, really well explain, thank you!
Hubris. We all could have seen that with the "Evergiven" – given a week to stay in suez-canal.. 🙂 The shock came half a year later.
Hey Sal. Say hi to John Mero for me !
BCO’s can’t even get on board. No space !
June 6100 cost to LA. Going to spike another $ 2 k come July
I am educated, but know nothing about shipping. It is refreshing to listen to you explain shipping events that are consequential to smooth operations in trade and economic growth.
Than you for your efforts Sal.
America can no longer protect shipping anywhere. Houtis shut USA down with spear. 🤣🤣🤣
Globalism takes a hit every time shipping costs rise.
Do you feel this will create an uptick in world air cargo shipments?
There are US and Israeli covert attacks on Russian, Chinese and Iranian ships which attempt to place blame on Houthis.
The pirates struck first, now comes the looters.
Best show on youtube
Imagine the engines on a 30K TEU ship. It's so crazy to think one day they just might link ships like trains with "locomotive" tugs. If the weather gets any more saucy they might need to make them submarines.
I always wonder how life is like for workers on these giant tankers. And how life is like when they are stuck on there for days/weeks with delays. Must be a really tough job.
Some of our ships are being delayed here in Los Angeles/Long Beach because of what’s happening in the Middle East
'The Houthis' know how to detonate weapons, this was another warning to Gen*cide Joe and Bibi and the Zi*nists
My shipping fees per container last year was $2500. Now my cost is $7500 per container and my freight forwarded is telling me to expect further increases. A price we have to pay so Israel can continue genocide. This change will be reflected on the what the customer pays.
Nobody's cleaning up carbon emissions with these steam ships. They burn bunker fuel while out of sight of land.
Read the headline in the thumbnail as "Container Rats Spike" — also a plausible thing.
Imagine if Palestinians were shipping containers.
Lets go brandon .. yet millions will still vote for biden. Hes the second worst president in this country's history
never thought about congestion. thats going to be a huge issue. when you spent the past 100 years building up a well oiled machine to make its as economic as possibe. its like an engine, a small oil leak is ok for a while but then other thing go wrong, when you put fresh oil back in it might not fix it. the damage is done.
More reason to move manufacturing to the US.
May a good thing because it makes Domestically produced goods more competitive!
Interesting, as allways. Thanks.
The attackers are rebels, not pirates. The area is infested by Somali, Yemen for 10years. All actions of West countries trying to solve (clean) the problem, was not successful. Shipping produces 3% of CO2, airplanes produce 100X times…….
Houthi have been viewed by some observers as not so much pirates but more like the 18th Century Wreckers of the Cornish coast of England.
Like the Wreckers, Houthi are using their "booty" to power the local coastal and inland economy.
Subsequently, also like Wreckers, they are considered not just essential but almost heroic.
In other words, these observers consider the onus is on wealthy nations to take a financial interest in the region rather than simply confront the Houthi, a mere stop-gap measure to no avail.
If the local economy doesn't require Houthi illicit goods, the Houthies will lose support and the problem evaporate. That's the argument.
Is this why that there's less fruit available in English supermarkets?? I wondered about why random things are harder to get.ThankQ.TkEZ