High Shipping Costs Are Here to Stay, Says Bloomberg
By Henry Ren (Bloomberg) Stubbornly high shipping expenses for businesses are getting sealed into contracts for the next 12 months, forcing companies to pass the extra costs on to consumers....
A 71,000 DWT bulk carrier is aground and in danger of breaking up off the coast of Manzanillo, Mexico after the ship dragged anchor during Hurricane Patricia.
Local media reports that the Mexican-flagged Los Llanitos was waiting out the storm at anchor off the Jalisco coast, but that proved no match for the estimated 165 mph winds that slammed the coast beginning late Friday.
Photos and video released by the Mexico’s Federal Attorney for Environmental Protection (PROFEPA) show the ship pinned against the rocky coastline and hogging.
A statement from PROFEPA issued Sunday said that the the vessel was at serious risk of further damage, but only a small amount of oil was spilled from the ship at time of update. At least 19 of the ship’s 27 crew members were evacuated by helicopter, with the rest of the crew remaining onboard the assist in any of salvage of the vessel, the statement said.
Hurricane Patricia, the strongest hurricane ever recorded, made landfall Friday night just south of Puerto Vallarta, although the storm did surprisingly little damage as it dissipated over the areas mountainous coastal terrain.
Manzanillo is home to the busiest port on Mexico’s Pacific coast. The port was and operating at 100% by midday Saturday, the Port Authority of Manzanillo reported.
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