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Transportation

May 6, 2019, 08:41 AM by Weekly Market Report
NYMEX crude oil futures took a tumble at the end of April compared to the rest of the month. However, crude oil prices are still floating above their 52-week range of $43.80-$75.65 per barrel.

Gasoline and diesel fuel prices are up across the board from the previous week.

Transportation0506

With pressure to lower carbon output, many members of the global shipping industry are calling for mandatory slow steaming on all ocean vessels. As travel times for trans-Pacific trade have been already increasing, this slowdown will only exaggerate transit times. A potential benefit may be that this would put pressure on shipping companies to put more boats on the water but the trade-off with launching ships under capacity, port congestion, and labor costs may not make the most economical sense. It would provide a counter-balance to the massive consolidations whose effects are still rippling through the supply-chain.

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