Historically, wars involving oil producers cause tanker rates to skyrocket. A month into the Russia-Ukraine conflict, most crude tanker rates remain pitifully low. Product tanker rates are rising, but not dramatically so. "The immediate knee-jerk reaction was: Disruptions create market strength," Evercore ISI analyst Jon Chappell said. "We saw that...
The Coast Guard is investigating four shippers at the Port of Los Angeles
Following a container fire at the ports of Los Angeles and Long Beach, the Coast Guard collaborated with port partners to identify shipping containers containing undeclared hazardous materials. On March 4, around 8:20 p.m. PST, watchstanders at Coast Guard Sector Los Angeles-Long Beach received a report of a burning shipping...
FreightCar America sees opportunity in continued high scrapping levels in 2022
Scrapping railcar levels are expected to remain elevated in 2022, which should benefit railcar manufacturer FreightCar America this year, according to company executives during the company's fourth-quarter 2021 earnings call. "Since 2020, annual railcar scrapping figures have outpaced deliveries and historical replacement demand as customers retire older and less efficient...