What the Ship! (Ep 50) - Taking the Top 5 Maritime Stories and Making Sense Out of Global Shipping

What the Ship! (Ep 50) - Taking the Top 5 Maritime Stories and Making Sense Out of Global Shipping

What's Going on With Shipping?
Episode 50
September 16, 2022

In this episode, Sal Mercogliano - maritime historian at Campbell University and former merchant mariner - examines the top 5 maritime stories as of September 16, 2022 and discusses their impact. First, the latest on the tentative agreement reached between the unions and the Class I railroads. Second, the supply chain situation in flux with transatlantic overtaking transpacific in containers. Third, as Europe deals with the loss of Russian gas and oil, LNG and oil transportation shipping rates increase. Fourth, bulk rates experience a similar increase across the board. Finally, a serious of scandals - Fat Leonard & Bonhomme Richard fire - continue to plague the US Navy.

#strikes #supplychain #lng #Europe #Russia #bulk #FatLeonard #bonhommerichard

00:00 Introduction
00:25 1. Rail Strike Averted
04:28 2. Transatlantic Overtakes Transpacific in Containers
08:53 3. LNG charter rates increase
13:40 4. Bulk rates increase
18:20 5. US Navy, Fat Leonard & Bonhomme Richard Fire
23:54 Analysis & Conclusion

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1. Biden Brokers Deal Averting Nationwide Rail Strike

Transport strikes put supply chains under duress again

2. Transpacific Rate Decline and Strong Dollar Could Bolster U.S. Imports

Transatlantic Overtakes Transpacific as Most Lucrative Trade for Shipping Lines

Port of Savannah Reports Busiest Month on Record in August

Typhoon Muifa Hits Major Eastern China Port Hub

Could China’s Exports Be Under Long-Term Threat?

Shipping’s China syndrome: Demand sinks across multiple cargo markets

THE MARKET HAS STARTED ON THE PATH TO “NORMALISATION”

3. LNG shipping rates top $100,000/day, oil tanker rates still rising

How will the European energy crisis affect freight markets?

4. Baltic Dry Index Rises on Higher Capesize Rates

Drybulk Shipping Market: A Dead Cat Bounce Or…?

5. U.S. Authorities Offer $40,000 Reward for ‘Fat Leonard’ Tips Leading to Arrest

Fat Leonard Podcast

US Navy Blocks Court Records In Ship Arson Case

[ElDJReturn]

Once again, another insightful episode with enough humor (Fat Leonard) to make it complete. Thanks for all you do and see you on the next one!

[geezzzwdf]

We need to avocate for the creation or revival of. Our nations own ports .and build our own tankers and bulk.carriers.
Thank you Mr. Sal
C&E*ca.USA

[TimMcKennaItsThePlumber]

Congratulations on episode #50! Looking forward to the next 50.

[feli]

Hey man, I wanted to thank you for the nice content!
I recently started a new role on an NVO in South America as a specialist in the US market because it's an important trade lane for the company and I had some experience working on an American NVO before.
Most of my responsibilities involve developing relationships with providers there, but I also like to keep myself updated on the market and share insights with my coworkers as there are a lot of people who work with that trade lane on a daily basis and don't have time or interest to seek out news and insights, makes me happy helping them to make better-informed decisions even if it's just a little bit and your channel has come a long way on helping me with that!

[lesr]

Sal, I became a listener of yours I don't know about 2 years ago almost from the very beginning and I cannot tell you how much I enjoy your videos especially what the ship and the array of other people that are basically involved about writing about shipping. Introducing me to all of the people that are involved about writing about this subject. You're what the ship segments I find myself going back to like G captain to get more info but you bring it all together

[giovannibattistaponzetto]

Thanks, Sal. I am in Europe and you won't believe the nonchalance.

[christesterman]

I was on the Blue Ridge late 90's early 2000's. I had no idea at the time buuuut looking back lots of things that made you go One thing I heard was Fat Leonard would provide CHT services because you can't discharge poop with in 5 miles of port or something well he'd discharge the poop directly into the port instead. Actually Japan caught a company discharging polluted water from ships in the harbor not too long ago.

[Skyler]

Great content, thanks for what you're doing here

[Marklek]

European gas managers are pretty confident about their storage state at the moment with regard to making it through the winter into spring. They are ahead of their timeline for maxing out their storage.

[tompetrushka]

Hey Sal, great report. As you follow the union activities, look at UPS. This is another area where a strike would have wide ranging affects. I think they have a negotiation coming soon as well.

[williamlloyd]

Any services provided at non-military controlled ports was always a risk. Amazed that USN officers were willing to risk career and jail for relatively trivial things. Shame on them.

[MJTAUTOMOTIVE]

Hi Sal, Thanks for all the hard work You do putting these episodes together. Stay safe. Cheers

[surajitgoswami]

I find your channel more informative than anything else including the WSJ. on the global economy. Congratulations! Employee power and inflation from just that looks like it is here to stay and, consequently, automation at the West Coast ports may happen sooner or later.

[stefanratkiewicz]

Another great episode, thanks . Many experts are talking about ' Inflation. Deflation etc ' What I see happening is opportunistic Gaugeflation by greedy speculators.

[PlanetFrosty]

Cathie Wood, CIO of Ark Invest, predicted this overstock and drop in pricing months ago from her data. Good news is innovation and new business from that should help US weather global economic issues.

[kyleroth]

@What is Going on With Shipping? Thank you Dr. Sal.

[kyleyellowbird]

Ive worked UPS, AMAZON Air
Yes i believe there is LOST CURRICULUM due to this scandal hence the supply chain discrepancies.
Served 08-11 RR(CVN76), Master helmsman qual and a BM. I oversaw these OPS. May have been "set-up" as well based on position. Also paramount(TOP GUN) liaisons were on board. Perceptive story maybe?

[PlanetFrosty]

Managing LNG is remarkable chemical management process. Tendency of CH4(Natural Gas) to convert at LNG storage propane and butane in the gaseous headroom in tank. Inert gas is used to help manage this event.

[michelleayres]

I'm surprised at how much I enjoy your videos. I'm a nurse. I have little to do with shipping. Never mind that we had to make masks in the upholstery shop.
Serious question: At the start of the pandemic, some supplies and drugs (acyclovir for one) disappeared from the market. Was this a shipping issue or a policy issue? Please discuss if you possibly can.

[PlanetFrosty]

Russia is having difficulty suppling India and China. As you predicted, ports are refusing Russian cargo so ships can’t refuel or get other port services. Insurance is getting cut off at a higher rate according to economic reports.