Shell (SHEL) says it will stop buying Russian crude and apologized for purchasing a cargo last week amid the ongoing Russian invasion of Ukraine. “We are acutely aware that our decision last week to purchase a cargo of Russian crude oil to be refined into products like petrol and diesel – despite being made with security of supplies at the forefront of our thinking – was not the right one and we are sorry,” Shell Chief Executive Officer, Ben van Beurden said in a company statement. The… Source link
Read More »Russia-Ukraine, soaring energy prices a ‘double whammy’ for stressed air cargo market
With heavy customer demand for faster delivery, the air cargo market may face a dilemma as the threat of a Russian invasion of Ukraine fans geopolitical tensions, and puts new strains on an already stressed worldwide supply chain. An Eastern European conflict “won’t be good. Anytime you have geopolitical tension, it actually takes up a lot of demand for a lot of these air charters that exist,” Brian Bourke, chief growth officer at freight company Seko Logistics, told Yahoo Finance Live on… Source link
Read More »Cargo theft that may last as long as the backlogs do
With a number of cargo containers bottlenecked at California’s ports, another problem has ensnared the companies trying to ship goods, and the customers and shops waiting for those supplies. Theft. The worsening supply chain crisis are making stolen shipments an increasingly common problem that’s affecting shoppers, already facing long delays and soaring prices. Cargo that finally makes its way out of backlogged ports on the West Coast is being aggressively targeted by criminals eyeing… Source link
Read More »How to trade the Suez Canal cargo ship blockage: Morning Brief
Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. Subscribe Friday, March 26, 2021 JPMorgan suggests a trade to hedge against a worst case scenario Images of the massive 400 meter-long container ship Ever Green running aground and blocking the Suez Canal are stunning. And the world is quickly learning how crucial that chokepoint is to global trade. “The immediate impact of delays in the canal will center on European-Asian trade, adding delays to already… Source link
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