Glut in shipping market likely to continue

AOK - Seems unlikely this will be contributing to inflation soon. On the other hand, over at least the medium terms the low elasticity of supply is likely to make oil shipping charges & availability another contributor to oil price & economic volatility ... Supertankers Face Two-Year Losing Streak as Frontline Shuns Oil By Alaric Nightingale Oct. 25 (Bloomberg) -- Supertanker owners are facing the longest stretch of unprofitable rates in 17 years as the supply of new vessels increases nine times faster than demand for oil. Shipping companies are making $3,155 a day for a single voyage, 90 percent below the $30,900 Frontline Ltd., the biggest operator, says it needs to break even.