Post by NYSHEX

A ceasefire was announced. The strait did not open. Lars Jensen checked AIS vessel movement through the Strait of Hormuz in the 24 to 48 hours following the US-Iran memorandum of understanding. The pattern was unchanged. A few ships moving through, same as before. No exodus of waiting vessels. No signal from the shipping lines that anything has materially shifted. Meanwhile rates on Asia-North Europe and Asia-USWC are surging for reasons that have nothing to do with Hormuz. Supply and demand. And El Niño is now officially confirmed with an 88% chance of being the strongest on record since 1950. This week Lars and Caroline cover all of it. 🎧 Tune in for the full episode wherever you podcast. Want the charts in your inbox every week? Subscribe to the weekly episode CliffsNotes: 👉 https://hubs.ly/Q04lz3NR0 #DeliverThroughVolatility #NYFI #NYSHEX #Hormuz #OceanFreight