Ship Rates Spiking 467% Marks Upended Trade Across Commodities
Rates to ship commodities from energy to bulk ores across the world’s oceans are heading for a rare year-end surge as conflicts, sanctions, and swelling output upend global supply lines.
This photo was sent by Jan Brand via our tips line with the following caption:
Salvage of motor vessel Holmatindur at Walvis Bay, Namibia. The vessel capsized and sank three hours before it was for docking. Poor stability was the cause of this very costly incident. It took some time to lift the vessel removing all nets, oil, cables to make it safe to work on. Also, finding all the leaks and making the vessel watertight before lifting her was a major job.
The Holmatindur prior to the incident:
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