Ship rates spiking 467% marks upended trade across commodities
Shipping rates for commodities like crude oil, LNG, and iron ore have surged, with crude transport earnings up 467%. This spike is due to conflicts, sanctions, and increased production, affecting global supply lines. Shipping companies face high costs and longer routes, with some opting for smaller vessels. Despite a market boom, companies are cautious about fleet investments due to uncertain future rates and geopolitical tensions.
Businesstimes·
