A very interesting set of charts this week.
From S&P Global Platts, October 18:
This week's selection of trends in energy and raw materials kicks off with global container shipping prices amid disrupted supply chains. S&P Global Platts editors and analysts also look at the relationship between energy and the dollar, US oil output and more.
1. Container logistics issues continue to bite, worldwide
What's happening? The cost of container shipping has soared over the past year and is hovering at all-time-high levels. Container rates from North Asia to North Continent are eight-and-a-half times higher than a year ago, at $17,000/FEU compared to the $2,000/FEU seen a year ago. This comes as firm demand to move goods across the world continues, especially as consumer spending shifts from services to physical goods during the pandemic. At the same time, factors such as port congestions, equipment shortages, and manpower challenges have prevented supply chains from flowing smoothly.
What's next? Despite demand starting to fall into the winter months, with many importers already having secured their Christmas stocks, logistical issues continue to dog global supply chains. A gently bearish sentiment is starting to percolate through the supply chain following China's Golden Week holidays, which gave shipping markets a brief respite. With over 600 container ships currently on order there are hopes from the shipper side that rates will begin to fall as these issues start to ease....
....MUCH MORE
