World delivery is incomes probably the most cash since 2008 as pandemic ache wanes

The globe gets its biggest payday since 2008 as the combination of booming demand for goods and a global supply chain collapsing under the weight of Covid-19 drives freight prices higher and higher.

Whether giant container ships piled high with 40-foot steel boxes, bulk carriers whose caves hold thousands of tons of coal, or special ships designed for cars and trucks, the revenues for ships of almost all kinds are exploding.

Since the merchant fleet handles around 80% of world trade, the increase extends to every corner of the The 2008 boom brought a huge wave of new ship orders, but the rally was quickly undone by a collapse in demand as a financial crisis sparked the deepest global recession in decades.

The reasons for this boom are twofold – an economic reopening after Covid, which has boosted increasing demand for goods and raw materials. In addition, the virus continues to disrupt global supply chains, clog ports and delay ships, limiting the number of goods available to move goods across the oceans. The majority of the shipping industry has thus achieved record profits in the past few months.

The gold mine revolves around container shipping – where rates keep climbing to new records, but it’s by no means limited to that. the according to Clarkson Research Services Ltd., part of the world’s largest shipbroker, the strongest daily result since 2008. The only laggards are the oil and gas tanker markets, where further declining forces are at play.

“I’m not sure if the perfect storm will cover it all – that’s just spectacular,” said Peter Sand, senior shipping analyst at the Bimco trading group. “It’s a perfect spillover of a scorching container shipping market onto some of the other sectors.”

Container shipping remains the star. It now costs $ 14,287 to move a 40-foot steel box from China to Europe. That is more than 500% more than a year earlier and drives up the costs of transporting everything from toys to bicycles to coffee.

Those gains can already be seen in the profits of AP Moller-Maersk A / S, the world’s largest container line, which increased its estimated profit this year by nearly $ 5 billion last month. As a sign of how profitable the industry has become, CMA said CGM SA – the world’s third largest airline – is freezing its spot rates to preserve long-term customer relationships. In other words, the company is distracting profits.

Other sectors

While demand for merchandise is boosting container markets, one is recovering also ransacked more raw materials and increased the revenue of bulk carriers carrying manufactured goods. Earnings in this sector recently hit an 11-year high and are showing little sign of slowing down as consumption is expected to remain stable for the remainder of the year.

“Strong demand for natural resources combined with Covid-related logistical disruptions” support spot and future freight rates, said Ted Petrone, vice chairman of Navios Maritime Holdings, which owns a fleet of bulk carriers, on a conference call last week. “The fundamentals of supply and demand will remain extremely positive in the future.”

The extreme strength of shipping is so great that some bulk carriers have even moved to carry containers on their decks. Golden Ocean Group Ltd. belongs to the companies that are dealing with the idea. While it could bring additional profits to owners in an already unexpected year, it is not without risks as bulk carriers are not designed to carry the giant boxes.

“It tells a story about the special situation we find ourselves in,” said Ulrik Andersen, CEO of Golden Ocean, earlier this month in the container market.

Tanker lull

While Covid boomed many shipping sectors, for oil tankers it meant loss-making businesses and owners effectively subsidizing the shipping of crude oil for much of 2021.

With OPEC + still keeping some of the supply offline, there are too many ships and too few cargoes, which is keeping revenue down. That burned one of the hottest trades in the industry earlier this year – bullish oil tanker positions in hopes of a summer surge in oil demand.

In view of falling oil stocks on land, analysts continue to expect a recovery. Interest rates could rise in October as inventories dwindle and demand for tankers rises, Pareto Securities analysts, including Eirik Haavaldsen, wrote in a statement to customers.

But for the time being, the tanker market remains the only eyesore for an industry in which freight capacities are becoming increasingly scarce. The ClarkSea Index, which tracks daily earnings across a variety of shipping sectors, has seen its longest monthly gains on record.

These record profits are also seen in more esoteric markets. Car transporters have been the most expensive to rent since 2008. The prices for general cargo ships with heavy equipment are also rising, contributing to a boom led by container and bulk carriers.

“The charter rates reported in containers are insane and the same goes for bulk cargo,” said Alexandra Alatari, shipping analyst at Arrow Shipbroking Group. “The fundamentals are strong enough to support interest rates, which would be the high point of any other year.”

Fetch Rewards App: The Secret to Saving Cash and Incomes Reward Playing cards

Between Online purchases and grocery storesYou probably collect a lot of receipts every week without worrying about it. Now there is a way to take advantage of these pieces of paper: The Fetch Rewards app rewards you for spending money on literally everything from anywhere.

The The Fetch Rewards app is free to download and easy to use. Simply scan your receipts from in-person or online purchases and you’ll earn points that can be redeemed for digital gift cards at hundreds of popular stores including Target, Sephora and Starbucks. The best part? You can choose the brand of your gift card.

Currently, places like Target and Amazon are offering $ 3 worth of gift cards when you hit 3,500 points. Gift cards usually start at $ 3 or $ 5, but you can save your points on gift cards up to $ 50. The app is great for all types of shoppers as you have the flexibility to redeem points for many gift cards in a variety of stores, or one gift card for your brand. Once you’ve scanned receipts in the app, simply go to the Rewards page to see how many points you have and which gift cards to claim. You can also sign up for Magazine subscriptions with your points.

Download Fetch Rewards (Sign in using this link or code PEOPLE to earn 3,000 points when you scan your first receipt.)

With an average rating of 4.8 out of 1.2 million reviews in the Apple App Store the Fetch Rewards app is loved by many customers. One reviewer says, “Where has this app been all my life?” While another says, “I don’t know why you wouldn’t use it.”

If you’ve used other coupon and grocery apps, you know how to use them to search through pages and pages of offers to pick the ones you want to use. Good news: with the Fetch Rewards app, you don’t have to plan ahead. It automatically gives you points for every item on your shopping list and even more points for a rotating list of products, including snacks and homewares from customers who are loved by customers. For example, a rotating offer in the app gives you 1,000 points for buying toilet paper and an additional 2,000 points for a box of muesli. These two items combined are equivalent to a $ 3 gift card.

“You don’t have to go through [the app] To choose your products or indicate which business, “writes a user.” Even if you don’t have any products that redeem points, you will still receive bonus points. But that rarely happens because this app contains products that you actually buy! “

Are you ready to make the most of your receipts? Download the Fetch Rewards app Now you’re one step closer to free gift cards. Plus, readers who sign up using the link above or the PEOPLE code will earn 3,000 points for just scanning their first receipt.

How Three millennials incomes over $100,000 spend their cash

Bukola Ayodele, Roy Patterson, and Brieonna Johnson live in different cities and work in different industries, but they have one thing in common: All three are millennials who make over $ 100,000 a year.

CNBC Make It previously interviewed Ayodele, Patterson and Johnson for ours Millennial Money Seriesthat profiles and details people around the world on how they make, spend and save their money.

Here’s a look at each of their monthly budgets, as well as their attitude towards money.

Bukola Ayodele makes over $ 200,000 a year

“I make sure that I put some money into my long-term goals every month,” says Ayodele, a 25-year-old software engineer who works in fintech. they makes $ 210,000 a year and lives in New York City.

One of their goals is to become financially independent FIRE (financial independence, early retirement) Move. She hopes to eventually earn enough from her investments to cover all of her monthly expenses, even if she chooses not to retire early.

Ayodele can save $ 7,625 every month. She pays $ 42 in her health savings account, $ 1,583 in her 401 (k), $ 2,000 in a high yield savings account, and $ 4,000 in a brokerage account.

The rest of her salary goes towards housing, family donations, food, beauty, clothing, transportation, subscriptions, and utilities.

Roy Patterson saves thousands a month

Roy Patterson is a 31 year old IT project manager at Cigna Health who lives in Philadelphia and makes $ 118,000 a year.

Patterson spends around $ 6,000 a month, of which $ 3,111 goes into savings and investments.

Patterson’s greatest challenge is skin care, which he considers an important part of his self-care routine. His product of choice: Biologique Recherche Lotion P50, which costs more than $ 100 for an 8.4-ounce bottle.

In total, Patterson spends around $ 630 per month on discretionary spending, including travel, skin care, clothing, and entertainment.

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Brieonna Johnson travels back and forth between two cities

Brieonna Johnson is one 29 year old nanny who makes $ 175,000 a year Working in New York City and Atlanta. Before the pandemic, she flew back and forth between cities every week.

“I usually work seven days in New York City, then three to five days in Atlanta,” says Johnson. Her friend works for an airline that allows her to fly for free on standby. However, should she ever have to wait more than a few hours for a flight, the family she works for in New York will pay for the flight.

However, Johnson has not worked directly with the New York family since the pandemic began. She has been put on paid vacation and continues to earn her base salary of $ 130,000. She also makes $ 30,000 a year from the Atlanta family and $ 15,000 a year as a travel nanny and newborn specialist.

Every month Johnson puts $ 1,925 of her salary into savings, divided into Roth IRA, Simple IRA, and Digit. She is also aggressively paying off debts; Another $ 4,325 goes into their student loans and credit card debt.

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Disclosure: NBCUniversal and Comcast Ventures are investors in Acorns.