Oil Tanker and Container Shipping Rates Hit Record Highs

One month ago, when it first became apparent that the Red Sea blockage by Iranian proxies would prove to be a prolonged affair, we warned that "Red Sea Blockage Means A New Round Of Surging Cost-Push Inflation", which got confirmation just a few days later when we showed the sudden spike in container shipping rates that used the Suez Canal as a transit choke point. That, as we strongly suspected, was just the beginning, and according to Bloomberg, a key Clean Tanker rate tracked by the Baltic Exchange, has exploded to almost $100,000 a day on the…