The phrase “a rising tide lifts all boats” is a metaphorical expression implying one general outcome tends to impact others within the market. In this case it is rising ocean freight values. According to a refined glycerin trader, “ocean freight prices have increased 200 percent in the last three weeks due to all the issues in the Red Sea.”
While most shipping of refined glycerin does not travel through the Red Sea, it has been noted that the shipping industry has been able to use this instance to raise pricing across the board. This is expected by many in the industry to trickle through to refined glycerin prices within the next few weeks.
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11.21.2024
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