What the Ship? Stocks Tumble, Roll-on/Roll-offs, ILWU Contract, Black Sea Maritime War & Diesel

In this episode, Sal Mercogliano - former merchant mariner and maritime historian at Campbell University - discusses the Top 5 Maritime stories as of May 10, 2022. First, shipping stocks take another tumble as the market reacts to China shutdowns, oil demand, and inflation. Second, issues with roll-on/roll-off ships, including stability and cargo fire, has led to increase marine insurance resulting in higher freight rates. Third, the negotiations commence between the Pacific Maritime Association and the International Longshore & Warehouse Union (ILWU) on a contract. The existing agreement expires on June 30. Fourth, the war between Russia and Ukraine has impacted the ability of the latter to export its grain. With the sinking of Moskva, Ukraine has utilzied ports along the Danube to begin shipping out grain via small cargo ships. Finally, sanctions against Russian diesel and tankers, along with speculation in the market, has led to decreases in diesel storage in the US New England and mid-Atlantic region.