Rises on oil prices dashed hopes of lower freight rates-JNS head

Home Business Rises on oil prices dashed hopes of lower freight rates-JNS head 21-07-2022 09:24 AM Ammon News - Secretary-General of the Jordan Navigation Syndicate (JNS) Mohammad Dalabeeh, said continuation of the Russian-Ukrainian crisis and rise on global oil prices have dashed hopes of a drop in global shipping costs. Dalabeeh noted: " We expected freight prices to start dropping at the beginning of 2022," adding that "optimism has faded due to repercussions of the Russian-Ukrainian crisis and surge on oil prices, in addition to the increase in transit fees en route Suez Canal.", Petra reported. He also stressed that sea freight costs "will not drop, in light of the continued Russian-Ukrainian military operations, and rise in oil prices in particular". Cargo movement at Aqaba ports was not affected at all by the gas leak incident at the main terminal last month, he noted. The port, with the help of the shipping agent, successfully unloaded all livestock and vehicle vessels, which mitigated the spell repercussions on the shipping movement, he pointed out. Dalabeeh noted "operations returned to normal and the Aqaba port did not witness any significant congestion."

Home Business

Rises on oil prices dashed hopes of lower freight rates-JNS head

21-07-2022 09:24 AM

Ammon News - Secretary-General of the Jordan Navigation Syndicate (JNS) Mohammad Dalabeeh, said continuation of the Russian-Ukrainian crisis and rise on global oil prices have dashed hopes of a drop in global shipping costs.

Dalabeeh noted: " We expected freight prices to start dropping at the beginning of 2022," adding that "optimism has faded due to repercussions of the Russian-Ukrainian crisis and surge on oil prices, in addition to the increase in transit fees en route Suez Canal.", Petra reported.

He also stressed that sea freight costs "will not drop, in light of the continued Russian-Ukrainian military operations, and rise in oil prices in particular".

Cargo movement at Aqaba ports was not affected at all by the gas leak incident at the main terminal last month, he noted.

The port, with the help of the shipping agent, successfully unloaded all livestock and vehicle vessels, which mitigated the spell repercussions on the shipping movement, he pointed out.

Dalabeeh noted "operations returned to normal and the Aqaba port did not witness any significant congestion."

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