What the Ship! Australian Tugs; Cruise Stocks; Ukraine Grain; Banana Containers & West Coast Labor

What's Going on With Shipping?
July 6, 2022

In this episode, Sal Mercogliano - former merchant mariner and maritime historian - discusses the Top 5 Maritime Stories as of July 6, 2022. First, a Hong Kong-flag bulker loses power off the southeast coast of Australia and nearly comes ashore if not for the work of some kick-butt tugboats. Second, cruise lines have been on fire, hit icebergs and being sold for scrap, but more importantly, the stocks of Carnival, Royal Caribbean and Norwegian have all sunk to their lowest levels since COVID-19. Third, Ukraine asks the world to stop Russian ships from exporting Ukranian wheat, and Greek tanker companies from shipping Russian oil. Fourth, the amount of detention and demurrage charged by shipping companies in the United States is going bananas and is the highest in the world. Finally, the ILWU and Pacific Maritime Association contract has expired and contract renegotiations are unclear, thereby raising questions about the status of cargo operations on the West Coast of the United States.

#supplychain #shipping #cruise #ukraine #russia #westcoast #labor #detention #demurrage

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00:00 Introduction
01:13 1. Broken Down Bulk Carrier Saved Off Australia’s New South Wales
06:09 2. Cruise Line Stocks Could “Fall To Zero”
13:04 3. Ukraine Has Issues With Russian & Greek Ships
18:38 4. Banana Ships And The Hidden Fees Of Ship Cargo
25:32 5. No Deal in West Coast Port Labor Negotiations as Deadline Passes
33:08 Conclusion

1. Broken Down Bulk Carrier Saved Off Australia’s New South Wales
https://gcaptain.com/broken-down-bulk-carrier-saved-off-australias-new-south-wales/

Battling “Mountainous” Seas Powerless Bulker is Moved to Shelter
https://www.maritime-executive.com/article/battling-mountainous-seas-powerless-bulker-is-moved-to-shelter

2. Cruise Line Stocks Could “Fall To Zero” Says Banker
https://gcaptain.com/cruise-ship-stocks-bankrupt/

Carnival Expects To Cruise To Core Profit As Strong Demand Blunts High Costs
https://gcaptain.com/carnival-cruise-profit-strong-demand-blunts-high-costs/

3. Kyiv Asks Turkey to Probe Three More Russian Ships It Alleges Transported Stolen Grain
https://gcaptain.com/kyiv-asks-turkey-to-probe-three-more-russian-ships-it-alleges-transported-stolen-grain/

Zelenskyy urges Greek owners to stop moving Russian oil
https://splash247.com/zelenskyy-urges-greek-owners-to-stop-moving-russian-oil/

Europe Needs More LNG & Coal Ships ASAP
https://gcaptain.com/europe-needs-lng-coal-ships/

Shippers Still Willing to Touch Russian Crude Oil Are Cashing In
https://gcaptain.com/shippers-still-willing-to-touch-russian-crude-oil-are-cashing-in/

4. Banana Ships And The Hidden Fees Of Ship Cargo
https://gcaptain.com/banana-ships-hidden-fees-of-shipping/

Benchmark report on demurrage and detention: top 5 most expensive ports in the world all in the US
https://splash247.com/benchmark-report-on-demurrage-and-detention-top-5-most-expensive-ports-in-the-world-all-in-the-us/

California ports piling up again: Too many containers sitting too long
https://www.freightwaves.com/news/california-ports-piling-up-again-with-long-dwelling-import-containers

5. No Deal in West Coast Port Labor Negotiations as Deadline Passes
https://gcaptain.com/no-deal-in-west-coast-port-labor-negotiations-as-deadline-passes/