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Shipping Datapoint Of The Day

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by Felix Salmon
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Mar 07 2008 12:00am EDT

Shipping Datapoint of the Day

Scott Borgerson, in Foreign Affairs:

Taking into account canal fees, fuel costs, and other variables that determine freight rates, these shortcuts [through the Arctic Ocean] could cut the cost of a single voyage by a large container ship by as much as 20 percent -- from approximately $17.5 million to $14 million -- saving the shipping industry billions of dollars a year.

I had no idea that a single journey by a single container ship could cost as much as $17.5 million. No wonder all those Greek magnates are so wealthy!

(Via Cowen)

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