1y ago

Rising shipping costs hit global trade hard | DW

www.dw.com /en/rising-shipping-costs-hit-global-trade-hard/a-69586965

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Hoffmann also pointed to another unwelcome side-effect of longer shipping routes: rising greenhouse gas emissions. "Ships have increased their speeds, which has led to a rise in emissions, for example, by 70% on the Singapore-Rotterdam route."
😲
Is it that time of the year already? How time flies...
And by that I mean the time of the year where they manufacture some bullshit reason for our prices to keep going up...
Good? Manufacturing should overtime move locally, and local business should boon.
- But even local manufacturing needs supplies to manufacture. You can't mine cadmium locally if there's no cadmium to mine. Global shipping would still be necessary to maintain modern lifestyles. Local manufacturing might reduce global shipping in some cases, but there would still be a huge amount of it.
  
  But then, for Europe, the sources would be Kazachstan, USA, and Africa. I would much rather have Kazachstan or Africa get money for it than China. And shipping raw rare earth metals should surely be less impacted than shipping full finished products that include cadmium (that take much more shipping volume).
  Hell, maybe this will also push for more recycling of Cadmium (and other special metals) as the source becomes less reliable / more expensive.
  I only see a problem for companies that try to milk every cent and are terrified of raising the price which will impact their profit margins and CEO bonuses.
- And you will pay a lot more for literally everything and some products will be either unavailable or with much lower quality. This will also drive inflation to new highs affecting the consumer purchasing power.
  I can only assume you are an American, and I am sorry to disappoint you but you don't have neither the manufacturing power, nor the workforce to handle all the manufacturing that is happening overseas anymore. Even if you want to switch to local manufacturing there would be decades until you build the know how build and equip the factories and to train the workforce.
  Where do you think your TV or phone or microwave, vacuum cleaner, dishwasher, etc. are produced?
  Not to mention that this will also affect your GDP in a negative way, as you will stop being able to export locally produced goods, because of those protectionist policies.
  But yes, let's do this /S
  
  Nice edit. I keep talking about European climate from a European perspective.
  Importing less directly increases GDP. One would assume it would have 0 impact on exports, unless other governments suddenly are bitchy and angry that they cannot export to us (see: China).
This is the best summary I could come up with:
The offshoot conflict in the Red Sea has meant higher freight costs and increased expenses for insuring commercial trade goods.
Moreover, moves to avoid the Suez Canal for safety reasons and instead navigate around the Cape of Good Hope, have greatly increased travel times and led to significantly higher fuel consumption.
Simon MacAdam, an analyst at the London-based financial consulting firm Capital Economics, says shipping companies are being forced to become more flexible.
"The shipowners have seemingly adapted quite well to the situation, considering the limitations on using the Suez Canal," he told DW, adding that costs briefly dropped this spring "after skyrocketing in January."
Shipping bulk commodities like wheat or liquefied natural gas (LNG) across the US is economically unviable, he added, leaving shippers with no alternative to the very long and dangerous detour route around Cape Horn on the southern tip of South America.
Water levels in the canal, he told DW, have "recovered somewhat" in recent months, and the La Nina weather phenomenon should "further ease the situation soon."
The original article contains 756 words, the summary contains 165 words. Saved 78%. I'm a bot and I'm open source!
Cost of doing Genocide baby.
Based Houthi's standing up for what's right.

45 comments