The good news: The Cass Freight Index declined 0.5% year-over-year in April.
The bad news: Petroleum product tanker rates for routes originating in Europe rose to record highs in April 2022. And this is important because of how we balance fuel stocks between Europe and the US.
Here is a tidbit on tankers from the EIA: Petroleum tankers are generally classified into two groups: “clean” tankers (Carry low Sulphur fuels etc.) and “dirty” tankers (carry crude oil, but they can also haul high-sulfur petroleum products such as bunker fuel oil).
15-minute webinar on June 9th. 1 PM CST on an advanced course on warehousing. Expect controversy and some great tips from veterans Jeff Pots and yours truly.