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....
Ship owners are considering avoiding high risk areas in Japan and could re-route their vessels due to fears over the potential spread of radiation, shipping sources said on Wednesday. Japan’s nuclear crisis appeared to be spinning out of control after workers withdrew briefly from a stricken power plant because of surging radiation levels.
Industry sources said dry bulk vessels, carrying commodities such as grains and coal, as well as oil tankers, could move to avoid affected areas of Japan.
“Some owners are definitely considering routing differently to avoid any potential radiation cloud, and passing that on to charterers (those looking to hire ships),” a shipping source said.
(Reporting by Jonathan Saul, editing by Anthony Barker)
Join the 67,730 members that receive our newsletter.
Have a news tip? Let us know.