@@ventoraveritas2853 As far as being open with one's biases and recognizing that literally everything is inherently political: Yes, this channel does not assert its political views whatsoever. In hundreds of videos I've watched here, his comments barely touch on whether stuff such as the latest union actions have been right or wrong, he simply comments his observations. Grow up. For your own sake, if not ours.
It literally could be mainstream. The only thing keeping Sal's channel from getting bigger is people caring. The Agorithmic gods are cruel and random, arbitrary on their best days.
@@wgowshipping Sal, Min 9:07 "No" -- it SHOULD be called a "Dark Fleet" because they "spoof" their their GPS locations and outright turn off their transponders. I.e., they are HIDING from the sanctions regime. China Uncensored channel has a story on this. It's causing big problems and risks throughout the shipping world.
I was at sea in the 1960s when Egypt sabotaged the Suez Canal. I certainly was not happier sailing from Europe to Asia via the Cape of Good Hope rather than taking the shorter route thru Suez. Last June the 72 year old Great Lakes freighter Michipicoten had a 4 metre long crack occur in her hull shortly after departing Two Harbors, MN with a load of iron ore pellets bound for the steel mill in Sault St Marie, ON. This was a regular run for the ship across Lake Superior. The ship remains in Superior, WI awaiting an investigation by the Canadian Transportation Safety Board. The regular run across the lake was taken over by another ship from the same company, the 50 year old Robert S Pierson. On October 13 after departing the Soo for the trip across the lake the Pierson dropped its rudder. It now is also laid up in Superior. Fortunately, no lives were lost in these two incidents but perhaps it's time the shipowner stopped risking the lives of the crews on these ancient vessels.
If it sails, swims, steams or submerges, Sal is the best news source for us landlubbers. It's interesting to note the "Royal Navy" only has 10 operational frigates. To think that America and England who once had the two most powerful navies in the world, can't get their act together (along with other western navies) and blitz the Houthis. Thanks Sal for another timely episode and analysis. Always MUCH appreciated.
Sal, most of the tows are just under 1000 feet long but most of the locks are 500 feet. So the tows need to be broken down at most locks and then put back together ! Also most locks were built in 1930’s in that river system . Need funding to upgrade the locks to 1000 feet and modernize the system .
1200 ft. tows, 600 ft locks. So lengthening some, plus rebuilding the backup locks. The Inland Waterways Association had a plan to do that during the Obama administration, but they didn't really respond to them.
Stop treating the Mississippi like a drainage canal. it is a living ecosystem that already deals with the negative impacts of the dams. The water is always lower in the fall and has always been lower due to the natural rhythms of weather and seasons.
I love your videos Sal. You are a great host and you keep the narrative flowing. You speak clearly and your cadence is in sync with my understanding of the content. Very informative channel. Thank you
Glad you started to feel better on my 77th birthday. I feel better as well. I used to live in the Marshalls. Love to learn worldwide Maritime issues. The small Golden Bear fleet served us.
Sal - you and I share the best hairstyle ever. I think you look even shinier than normal and much healthier than last week. Keep bringing us the maritime and waterway (and associated merchant and service) perspective.
Thanks to Sal, I feel informed about shipping issues and I have a better understanding of how global commerce is affected. It's more than just news bulletins; he takes the time to discuss how things work and who's affected and that's invaluable stuff!
Maybe he got a staring role, but you and your team are the best in my book!! You and your team took a subject that can be dry and made it interesting. Not a easy feat. Please keep up the amazing work you and your team do. It is very much appreciated!!
Great news that you're on the mend, glad to hear it Sal!!!! Great episode as always, and love the most Capt Obvious moment I believe I've seen in a while....If you're not being shot at by the Houthi, you're going to be happier...had me in stitches, love it!!!! Cheers from Sydney Aus, and always, keep up the brilliant work you deliver to all of us!!!!! 🍻🍻🍻🍻
Congratulations Sal. It is about time that the “ordinary Joe” is becoming aware of the critical importance of worldwide shipping on their dat-to-day lives. Anyone who goes shopping at their grocery, department or home improvement store and selects only goods that have traveled less than 3000 miles, will have a meager shopping cart load to show for it! Your presentation being charming, fun and, most important, informative will go a long way by expanding viewership and educating the masses. Thank you!
Glad to see you are on the mend. Your videos remind me why I do not want a current USCG issued Medical Certificate 🙃. It is a good time to be a retired American mariner.
Sal, it will be interesting to see a video on legal & insurance updates on key maritime incidents that you covered such as the Evergreen. Especially for persons like me who are not familiar with the industry.
Hey Sal, great stuff as always. On a happier note, the Scenic Eclipse Entered drydock tonight in Galveston harbor for unknown work. Great video from the harbor cam of the process. Might be interesting to your viewers.
1 thing - cutting back on the number of sites where the missile defense units and equipment will be stationed from 22 sites to 16, considering the area they’re defending (all of Guam is still a small area in the high altitude ballistic missile defense world) is not the same as cutting back on missile defense. If they’re cutting back on units and equipment involved, that would be cutting back on missile defense - if they’re just using fewer separate sites but they’re sending the same unit/equipment packages it’s not cutting back on the actual missile defense capabilities. Word I’ve heard on veteran sites is that fewer sites is confirmed (and now all of them will be on existing military reservations), no confirmed word on changes to the size/capability of military units involved.
I had never noticed before today but - and i don't mean to go all kitty on anyone - but my 9 year old male cat is attracted to your voice. It occured to me just now as he came as soon as the jingle with the sub and hit the bell and layed down on the bed, by my phone... I then had to move to go out and have a smoke so i paused and he didn't follow me but came rushing down as i resumed play before i got outside after dressing up. Same thing after, it's weird but hey, now i know how to attract him, he's usually very independant! Thanks!
Thank You Sal for the update about global shipping, I am wondering how much the cost would be to get some of the internal waterways dragged so they can be used as backups for the current system of waterways? Also where are all the autos going in at that would normally be coming into the port of Baltimore?
Insurance companies are a for-profit business. If they voluntarily through sanctions decide they will not cover someone that leaves an opening for another person to make profit. Sanctions what a joke.
That would be completely true if we had a free market, but with regulations being used to create winners and losers that's not always the case. Natural incentives>biased regulations. Legalize free markets!!!
There’s always the Drake passage! Stock up on Dramamine, peanut butter and crackers.🤣 On the bright side if you threw up a few sails (like carbon fiber sails) you could just turn of those engines in S.Chile. I’de like to see a video of someone fishing from a Russian Oil Tanker going around the Drake with a pole in one hand and a bottle of Vodka in the other.
I knew it! as soon as I spotted that the video was about choke points it was obvious that Sal was going to use it as an excuse to mention the bab-el-mandeb several times.....
Thanks Sal. Why Bother with Insurances & registry if you are Shadow Fleet? they work under the Radar, Transporting Oil at the High-Seas, Smuggling and doing Bad things.. Why bother with Legiting Anything? they Have there own accepting Ports
I wouldn't take any notice of Starmer mate, no one in the UK does, hasn't a clue and is delusional, we ain't got enough men to man our own miserable fleet.
To be fair that is largely due to the previous successive conservative governments, including our lack yet of actually operational carreirs, by retiring the old Invincibles early, but I agree with you - the last ship of any size we sent to the Pacific was Albion which is now in extended maintenance, wasn't replaced with Bulwark and may never return to service. Since then we're only able to deploy patrol boats none of which would be capable of oposing any PLAN vessel, possibly could go at an even level against their coastguards.
Grinding my teeth, thinking of the waterway infrastructure that should have been fixed decades ago. We don't need bs 'social infrastructure' we need actual physical improvements in our locks. By now, they should be thoroughly modernized. We've got solid evidence that quicker, more efficient barge traffic is a huge boost to the economy. I don't understand why it hasn't been done.
Glad you're doing better. On the point of parallel economies, I don't think that can be stressed enough. Russia has been off the swift paymnet system for 2 years now. If there is a generally accepted payment system used by a large enough portion of the world (Russia, Iran, China, and India for example) combined with a similar option for PNI to cover shipping and the trade connections that have greatly aided Global stability are gone.
Yes of course, not getting shot at is a big one, but also noted the other complaints affecting seafarer happiness such as prolonged absence from home, cultural differences, harsh living conditions and uncertainty contributing to depression, etc. would likely be forgotten when the digital divide goes away by getting reliable internet access via starlink 🙀
Got one for you. The ship moving the Indian gold from the UK to repatriate it . I believe it's a $100 million in bullion! I heard Chilean flagged but don't know for sure. Just a thought - glad to hear you're feeling better.
If there is so much money to be made in the shadow tanker business, one would assume that crafty old Norwegian that runs Nordic American would have a firm handle on it. Quite the contrary, as NAT is performing down in the lower quartile of the overall equity market; down almost 25% since this summer.
One of the problems with the inland waterways is cost of upgrading the old locks and dams for more efficient transport. For example, the new lock and dam @ Olmsted, IL, took so long and went so far over cost estimates that it is NOT funny. (That'd be worth an episode sometime, if you have not already done one.) I live in the area and have visited the facility: It is impressive, but then you think "Huh? HOW many billion dollars???!!!") I'd also note that a lot of the terminals along the rivers combine truck, rail, and water. I'm not sure how much there is / are in the way of pipelines that run to inland terminals.
Wanted to point out that $197/metric ton works out to $5/bushel, while the current cbot futures price is $4.13/Bu. So that's a basis of 87 cents to ship down the Mississippi. Pretty steep for a barge. Weird to see corn prices quoted in metric ton... Also Sal, don't worry too much about the weather. It'll change.
I know insurance is needed somewhat. But overall it's definitely a racquet. It's like I'm paying dues. Every six months, while I drive junk. The agents drive brand new four wheel drive trucks. Like they need a pick up.
Re: costs of shipping cargo by trucks on roads, trains on railroad, or by ships on water. In actuality trucks are the least efficient way to do it, railroads are in the middle and water transport is the most efficient, at least in considering cost for tons of cargo per mile. This is reversed (for transport within the USA and maybe also Canada) in the transportation companies’ expenses for actually moving the cargo and the prices they charge their customers. The problem is that trucking companies effectively receive massive subsidies from the government to support their operations - they don’t pay to maintain the road networks, the government does that. The railroad companies may receive some subsidies, but they are paying the cost of maintaining the rail network - a huge expense compared to the trucking companies using public roads to get everywhere. This is why it costs more to ship by rail than by road from the customer’s view. I’m not sure why shipping by inland waterway isn’t cheaper than the other two but I’m not going to doubt Sal’s word on that - maybe it’s the need to transport in bulk to benefit from its advantages or that the canal networks don’t go where they’re needed? We still see enough inland shipping to lead me to think that water transport is still showing as economical to the customer if the barges and boats are available and the water road goes there. I’m not sure who pays the costs of maintaining the inland waterways, other than the Corps of Engineers’ share (government). Shipping vast distances between continents and such - obviously ships are the only ticket, and if you’re shipping large amounts, when you’re crossing oceans they will still be the most efficient even if roads were available.
One rationale for carbon pricing is how it rationalizes the market, by linking the market price much more directly to fuel / energy) efficiency. Carbon tariffs, for example, would be the kind of thing that encourages domestic industry because the higher the carbon energy cost, the higher the overseas shipping cost, therefore the ability of far-offshore production to undercut your own industries diminishes. The industrial dominance of China and India over North American and Europe does of course partly rely on cheap & plentiful labour, but just as much on fossil fuels being cheap or even subsidized. A high fuel price or fuel scarcity tends to favour keeping production closer to the place where the consumers are.
I’d love to see a breakdown on that video from Wendover! Sam does great work, but with all due respect there’s tons of nuance that he simply doesn’t know about or doesn’t have time to cover. I’m particularly interested in what the best/most efficient way to move cargo is. We could spend billions to update all the locks, but is that money better spent improving highways where more than just barges can benefit? But if we stop maintaining waterways, does that cause other issues? Many dams will have to be replaced soon anyways, so is it better to spend a little bit more to make the locks bigger too? What parts of barge transportation can be automated to make life easier/safer for everyone?
Sal - LOVE you in Philadelphia. Although blue water shipping, law of the seas, admiralty law, &c. have always be collaterally interesting even at times offering compelling exciting news, the Ever Given grounding revealed a lack of serious, professional, and trustworthy journalism. This was potentially a serious problem until you stepped up filling this vacuum with relevant information previously only available to experienced industry insiders. Anywho Be with the Light in the war against Dark Evil, JACK Harrowgate, Phila., PA ---- USA ----
That bit about it being cheaper to go by truck than by water kinda flies in the face of what a lot of people say about water being cheaper than roads. Is this because we aren't investing enough in water infrastructure or is this more of a case where people are cherry-picking data points, like excluding certain costs to make it seem more cost-effective to go by another mode of transportation?
Remember that the fortunes of many oligarchies in countries the world over (including many supposed "allies" of the US) depend partially upon the "outlaw sea", and the often-dark fleets that trade along it. That's why regulations and registries are weak, and will continue to be.
"If you're not getting shot at you're happier."
Comments like this is why I come to this channel! 😅
Sal rocks!
Sal, straight, hard facts and no politics. This is knowledge. This should be mainstream. Keep up the exceptional work.
None political , you joking man .
@ I wasn’t joking.
@@ventoraveritas2853 As far as being open with one's biases and recognizing that literally everything is inherently political: Yes, this channel does not assert its political views whatsoever. In hundreds of videos I've watched here, his comments barely touch on whether stuff such as the latest union actions have been right or wrong, he simply comments his observations.
Grow up. For your own sake, if not ours.
It literally could be mainstream. The only thing keeping Sal's channel from getting bigger is people caring.
The Agorithmic gods are cruel and random, arbitrary on their best days.
@@Atmatan That’s why Dr. Sal has my utmost respect.
S
Glad you're feeling better!
Me too!
@@wgowshippingare you saying those naughty nurses took a peak? Lol
@@gtdcov Nurses always peak.
@@wgowshipping
Sal,
Min 9:07
"No" -- it SHOULD be called a "Dark Fleet" because they "spoof" their their GPS locations and outright turn off their transponders. I.e., they are HIDING from the sanctions regime.
China Uncensored channel has a story on this. It's causing big problems and risks throughout the shipping world.
Glad to see you doing better! Thanks for keeping us up to date.
Legend.
Thanks for watching!
I was at sea in the 1960s when Egypt sabotaged the Suez Canal. I certainly was not happier sailing from Europe to Asia via the Cape of Good Hope rather than taking the shorter route thru Suez.
Last June the 72 year old Great Lakes freighter Michipicoten had a 4 metre long crack occur in her hull shortly after departing Two Harbors, MN with a load of iron ore pellets bound for the steel mill in Sault St Marie, ON. This was a regular run for the ship across Lake Superior. The ship remains in Superior, WI awaiting an investigation by the Canadian Transportation Safety Board. The regular run across the lake was taken over by another ship from the same company, the 50 year old Robert S Pierson. On October 13 after departing the Soo for the trip across the lake the Pierson dropped its rudder. It now is also laid up in Superior. Fortunately, no lives were lost in these two incidents but perhaps it's time the shipowner stopped risking the lives of the crews on these ancient vessels.
I'm glad your health is better, Sir! Love your videos!
I like your presentations that include the good with the doom and gloom, which, unfortunately, is the majority of the news. Great job, Sal. Keep it up
Amazing.. what the Ship .. is a way to understand global realities.
The meaning of 'clandestine' is very much in the eye of the beholder.
Not really, if you are being sneaky...
If it sails, swims, steams or submerges, Sal is the best news source for us landlubbers. It's interesting to note the "Royal Navy" only has 10 operational frigates. To think that America and England who once had the two most powerful navies in the world, can't get their act together (along with other western navies) and blitz the Houthis. Thanks Sal for another timely episode and analysis. Always MUCH appreciated.
Very hard for Navies around the world to get sailors - my country's has more than half it fleet stuck in port waiting for more crew.
Sal, most of the tows are just under 1000 feet long but most of the locks are 500 feet.
So the tows need to be broken down at most locks and then put back together !
Also most locks were built in 1930’s in that river system .
Need funding to upgrade the locks to 1000 feet and modernize the system .
1200 ft. tows, 600 ft locks. So lengthening some, plus rebuilding the backup locks. The Inland Waterways Association had a plan to do that during the Obama administration, but they didn't really respond to them.
Environmental impact assessment? Maybe there some kind of breeding grounds are usually in places like these place's
Stop treating the Mississippi like a drainage canal. it is a living ecosystem that already deals with the negative impacts of the dams. The water is always lower in the fall and has always been lower due to the natural rhythms of weather and seasons.
I love your videos Sal. You are a great host and you keep the narrative flowing. You speak clearly and your cadence is in sync with my understanding of the content. Very informative channel. Thank you
Glad you started to feel better on my 77th birthday. I feel better as well. I used to live in the Marshalls. Love to learn worldwide Maritime issues. The small Golden Bear fleet served us.
Sal - you and I share the best hairstyle ever. I think you look even shinier than normal and much healthier than last week. Keep bringing us the maritime and waterway (and associated merchant and service) perspective.
Yyou always look in good health to your listners .We learn a lot.
Thanks to Sal, I feel informed about shipping issues and I have a better understanding of how global commerce is affected. It's more than just news bulletins; he takes the time to discuss how things work and who's affected and that's invaluable stuff!
So, so good. Keep up the important work.
Glad your feeling better-loved the updates.
Thanks for what you do.
Maybe he got a staring role, but you and your team are the best in my book!! You and your team took a subject that can be dry and made it interesting. Not a easy feat. Please keep up the amazing work you and your team do. It is very much appreciated!!
I love that . . ." they're not getting shot at by the f'ing Houthi." Kind of a no-brainer. That cracked me up Sal. Thanks for the laugh.
Excellent episode. Sal, you have gotten good at this. 5 very complex, interesting stories. Nice digest of current and ongoing issues.
good to see you back!
The Wendover video is definitely worth watching.
Thanks
👍👍
Welcome
Thank you Sal, that was a good video.
Glad you feel better !
Great update as always Sal, thank you!
Great information. so interesting
Great show!
Thanks for posting 😊😊
Great report thanks. Droughts and floods -- notice global warming and pay attention to science and forecasts.
Great news that you're on the mend, glad to hear it Sal!!!! Great episode as always, and love the most Capt Obvious moment I believe I've seen in a while....If you're not being shot at by the Houthi, you're going to be happier...had me in stitches, love it!!!!
Cheers from Sydney Aus, and always, keep up the brilliant work you deliver to all of us!!!!! 🍻🍻🍻🍻
Thanks!
Thanks Sal, as always. TOP points for mentioning crew welfare.. often overlooked... longer routes etc.. x hi 5, crew.! X❤
Glad you are feeling better
One of the best lately! Good to have you back sweety-buns
Congratulations Sal. It is about time that the “ordinary Joe” is becoming aware of the critical importance of worldwide shipping on their dat-to-day lives. Anyone who goes shopping at their grocery, department or home improvement store and selects only goods that have traveled less than 3000 miles, will have a meager shopping cart load to show for it! Your presentation being charming, fun and, most important, informative will go a long way by expanding viewership and educating the masses. Thank you!
“I’m not gonna lie.” That’s a plus.
IMHO adding free Starlink WiFi access for Seafarers would at least make them less unhappy.
How much would it cost?
Examples are always great to educate people
Glad to see you are on the mend. Your videos remind me why I do not want a current USCG issued Medical Certificate 🙃. It is a good time to be a retired American mariner.
Great Yarmouth has a fertilizer facility - so that helps.
Hope you are feeling better,
Another clear video thanks 👍👍👍
Such a good guy that Sal, being so happy for Samir
Sal, it will be interesting to see a video on legal & insurance updates on key maritime incidents that you covered such as the Evergreen. Especially for persons like me who are not familiar with the industry.
That’s a great idea. I will add it to my list of videos.
@@wgowshipping I second that!
Always a good overview. Thanks, Sal. 😊
Great video, Sal! Thanks for your consistent clarity on these important issues. Be well, be safe!
awesome episode Sal, thanks. Right up to the summary at the end. 👍
Hey Sal, great stuff as always. On a happier note, the Scenic Eclipse Entered drydock tonight in Galveston harbor for unknown work. Great video from the harbor cam of the process. Might be interesting to your viewers.
Good video! Glad you are feeling better.
Thanks as always, Sal.
Thanks Sal
Maritime trade: what. nobody notices...until it breaks. And Sal is there to cover the break.
1 thing - cutting back on the number of sites where the missile defense units and equipment will be stationed from 22 sites to 16, considering the area they’re defending (all of Guam is still a small area in the high altitude ballistic missile defense world) is not the same as cutting back on missile defense. If they’re cutting back on units and equipment involved, that would be cutting back on missile defense - if they’re just using fewer separate sites but they’re sending the same unit/equipment packages it’s not cutting back on the actual missile defense capabilities.
Word I’ve heard on veteran sites is that fewer sites is confirmed (and now all of them will be on existing military reservations), no confirmed word on changes to the size/capability of military units involved.
25min mark - hit the nail on the head 😂
Good morning from Reno Nevada
I had never noticed before today but - and i don't mean to go all kitty on anyone - but my 9 year old male cat is attracted to your voice. It occured to me just now as he came as soon as the jingle with the sub and hit the bell and layed down on the bed, by my phone... I then had to move to go out and have a smoke so i paused and he didn't follow me but came rushing down as i resumed play before i got outside after dressing up. Same thing after, it's weird but hey, now i know how to attract him, he's usually very independant! Thanks!
Thank You Sal for the update about global shipping, I am wondering how much the cost would be to get some of the internal waterways dragged so they can be used as backups for the current system of waterways? Also where are all the autos going in at that would normally be coming into the port of Baltimore?
Professor Sal, take a swig of some DayQuil when you mention that famous straight.
Insurance companies are a for-profit business. If they voluntarily through sanctions decide they will not cover someone that leaves an opening for another person to make profit. Sanctions what a joke.
That would be completely true if we had a free market, but with regulations being used to create winners and losers that's not always the case. Natural incentives>biased regulations.
Legalize free markets!!!
There’s always the Drake passage! Stock up on Dramamine, peanut butter and crackers.🤣 On the bright side if you threw up a few sails (like carbon fiber sails) you could just turn of those engines in S.Chile.
I’de like to see a video of someone fishing from a Russian Oil Tanker going around the Drake with a pole in one hand and a bottle of Vodka in the other.
I knew it! as soon as I spotted that the video was about choke points it was obvious that Sal was going to use it as an excuse to mention the bab-el-mandeb several times.....
Thanks Sal. Why Bother with Insurances & registry if you are Shadow Fleet?
they work under the Radar, Transporting Oil at the High-Seas, Smuggling and doing Bad things..
Why bother with Legiting Anything? they Have there own accepting Ports
It seems like there's more time to get stuff done with the longer trips so the crews are less stressed out.
I wouldn't take any notice of Starmer mate, no one in the UK does, hasn't a clue and is delusional, we ain't got enough men to man our own miserable fleet.
yeah good ol Two Tier Keir
To be fair that is largely due to the previous successive conservative governments, including our lack yet of actually operational carreirs, by retiring the old Invincibles early, but I agree with you - the last ship of any size we sent to the Pacific was Albion which is now in extended maintenance, wasn't replaced with Bulwark and may never return to service. Since then we're only able to deploy patrol boats none of which would be capable of oposing any PLAN vessel, possibly could go at an even level against their coastguards.
(Also a Brit) I do as Labour is a vast improvement over the corrupt and incompetent Tories.
Any more MOD frigate contracts coming up the road?
UK Defence Journal - All major Royal Navy warships now being built in Scotland.
@@d.e.7210 You awake???? they are even more corrupt and incompetent
Mississippi River system is about to get a few wet weeks.
I just went through the Panama Canal on the Carnival Spirit last week. Highly recommend it.
Don't forget that if you need an update on sailors welfare, give Chief Makoi a buzz.
Grinding my teeth, thinking of the waterway infrastructure that should have been fixed decades ago. We don't need bs 'social infrastructure' we need actual physical improvements in our locks. By now, they should be thoroughly modernized. We've got solid evidence that quicker, more efficient barge traffic is a huge boost to the economy. I don't understand why it hasn't been done.
Glad you're doing better. On the point of parallel economies, I don't think that can be stressed enough. Russia has been off the swift paymnet system for 2 years now. If there is a generally accepted payment system used by a large enough portion of the world (Russia, Iran, China, and India for example) combined with a similar option for PNI to cover shipping and the trade connections that have greatly aided Global stability are gone.
Yes! not being shot at is always a plus! 24:58
✋🏻present
Yes of course, not getting shot at is a big one, but also noted the other complaints affecting seafarer happiness such as prolonged absence from home, cultural differences, harsh living conditions and uncertainty contributing to depression, etc. would likely be forgotten when the digital divide goes away by getting reliable internet access via starlink 🙀
Yes indeed … the Joy of not being shot at .. it made me happier when I was aboard the USS Forestall..
Hurray for parallel economics even if it means The Bear is getting paid. More local, less global.
Got one for you. The ship moving the Indian gold from the UK to repatriate it . I believe it's a $100 million in bullion! I heard Chilean flagged but don't know for sure. Just a thought - glad to hear you're feeling better.
100 tonnes gold - oops.
Pirate Action Group = Somali pirates on the move
Surface Action Group = US Navy on the move
If there is so much money to be made in the shadow tanker business, one would assume that crafty old Norwegian that runs Nordic American would have a firm handle on it. Quite the contrary, as NAT is performing down in the lower quartile of the overall equity market; down almost 25% since this summer.
One of the problems with the inland waterways is cost of upgrading the old locks and dams for more efficient transport. For example, the new lock and dam @ Olmsted, IL, took so long and went so far over cost estimates that it is NOT funny. (That'd be worth an episode sometime, if you have not already done one.) I live in the area and have visited the facility: It is impressive, but then you think "Huh? HOW many billion dollars???!!!")
I'd also note that a lot of the terminals along the rivers combine truck, rail, and water. I'm not sure how much there is / are in the way of pipelines that run to inland terminals.
Wanted to point out that $197/metric ton works out to $5/bushel, while the current cbot futures price is $4.13/Bu. So that's a basis of 87 cents to ship down the Mississippi. Pretty steep for a barge.
Weird to see corn prices quoted in metric ton...
Also Sal, don't worry too much about the weather. It'll change.
So they're trying to capsize the island of Guam again? Will they never learn 😂
Thanks Sal
just a note: October is the low water flow time of year for the Missouri river part of the Mississippi river basin.
Sal, did you have experience with media before your channel? As they say, either you got it or you don’t and, my man, you got it.
If the government subsidized the waterways the way they subsidize the highways inland waterway shipping would be cheaper
I know insurance is needed somewhat. But overall it's definitely a racquet. It's like I'm paying dues. Every six months, while I drive junk. The agents drive brand new four wheel drive trucks. Like they need a pick up.
Sal, What is the latest on the USNS Big Horn in the shipyard? Going to fix rudder or tow home or heavy lift home?
Re: costs of shipping cargo by trucks on roads, trains on railroad, or by ships on water. In actuality trucks are the least efficient way to do it, railroads are in the middle and water transport is the most efficient, at least in considering cost for tons of cargo per mile.
This is reversed (for transport within the USA and maybe also Canada) in the transportation companies’ expenses for actually moving the cargo and the prices they charge their customers. The problem is that trucking companies effectively receive massive subsidies from the government to support their operations - they don’t pay to maintain the road networks, the government does that. The railroad companies may receive some subsidies, but they are paying the cost of maintaining the rail network - a huge expense compared to the trucking companies using public roads to get everywhere. This is why it costs more to ship by rail than by road from the customer’s view. I’m not sure why shipping by inland waterway isn’t cheaper than the other two but I’m not going to doubt Sal’s word on that - maybe it’s the need to transport in bulk to benefit from its advantages or that the canal networks don’t go where they’re needed? We still see enough inland shipping to lead me to think that water transport is still showing as economical to the customer if the barges and boats are available and the water road goes there. I’m not sure who pays the costs of maintaining the inland waterways, other than the Corps of Engineers’ share (government).
Shipping vast distances between continents and such - obviously ships are the only ticket, and if you’re shipping large amounts, when you’re crossing oceans they will still be the most efficient even if roads were available.
One rationale for carbon pricing is how it rationalizes the market, by linking the market price much more directly to fuel / energy) efficiency.
Carbon tariffs, for example, would be the kind of thing that encourages domestic industry because the higher the carbon energy cost, the higher the overseas shipping cost, therefore the ability of far-offshore production to undercut your own industries diminishes. The industrial dominance of China and India over North American and Europe does of course partly rely on cheap & plentiful labour, but just as much on fossil fuels being cheap or even subsidized. A high fuel price or fuel scarcity tends to favour keeping production closer to the place where the consumers are.
Open seas is a good thing. Thus, a parallel fleet is a good thing. No country should have control over all of the shipping in the world.
I’d love to see a breakdown on that video from Wendover! Sam does great work, but with all due respect there’s tons of nuance that he simply doesn’t know about or doesn’t have time to cover. I’m particularly interested in what the best/most efficient way to move cargo is. We could spend billions to update all the locks, but is that money better spent improving highways where more than just barges can benefit? But if we stop maintaining waterways, does that cause other issues? Many dams will have to be replaced soon anyways, so is it better to spend a little bit more to make the locks bigger too? What parts of barge transportation can be automated to make life easier/safer for everyone?
We need to spend as much money on our waterways as on our highways.
What about railroads? They are an important part of our transportation system and the feds don't spend a dime on them.
@@joefin5900 Railroads in the States are privately owned. Nationalize them, then we can talk.
Tell us what the ship was of the coast of Valencia when the storm hit. ???? Adapt2030 has asked if anyone knows what it is. Love the channel thanks
Hi Sal. Could you do a segment on trumps "Tarriffs" to replace income tax and how that works with shipping. Please❤
traditional commercial shipping beginning to fragment ? .... west vs ru/china
Are containers on ships fastened down or tied to each other? Seems like it would e necessary to keep them from falling off in rough seas.
They are locked in at the corners and the lower to mid level containers have lashings on them.
Sal -
LOVE you in Philadelphia.
Although blue water shipping, law of the seas, admiralty law, &c. have always be collaterally interesting even at times offering compelling exciting news, the Ever Given grounding revealed a lack of serious, professional, and trustworthy journalism. This was potentially a serious problem until you stepped up filling this vacuum with relevant information previously only available to experienced industry insiders. Anywho
Be with the Light in the war against Dark Evil,
JACK
Harrowgate, Phila., PA ---- USA ----
Is Ruby at Great Yarmouth did I hear? If so, might drive over and have a look…
That bit about it being cheaper to go by truck than by water kinda flies in the face of what a lot of people say about water being cheaper than roads. Is this because we aren't investing enough in water infrastructure or is this more of a case where people are cherry-picking data points, like excluding certain costs to make it seem more cost-effective to go by another mode of transportation?
I’m not real happy that the ILA gave up their place in the catbird seat when they had the most leverage. Just saying
Remember that the fortunes of many oligarchies in countries the world over (including many supposed "allies" of the US) depend partially upon the "outlaw sea", and the often-dark fleets that trade along it. That's why regulations and registries are weak, and will continue to be.