CONTAINER, DRY BULK, TANKERS, LNG, LPG

Is another world-scale lockdown lurking?

Published 2. Dec 2021 11:39 AM

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The markets have unquestionably reacted to the uncertainty of the new Omicron variant which is yet unclear as to whether should be of concern and if the new variant can evade protection from the vaccines

What is clear, is that the markets have reacted to the announcement of a new and unknown variant last week leaving investors and participants in a predicament situation. A world-scale lockdown could be just around the corner and with increasing cases in Europe we have already seen the preliminary results of the current travel restrictions. Since the announcement of the new variant last week, jet fuel prices have decreased which is also reflected in the Platts Global Jet Fuel Index which has seen a change of -4.6% compared to last week, due to the established travel bans from mostly European countries, to prevent an exponential increase in the Omicron variant. 

Indices in the OX-Global Shipping Indices have seen a steep decrease as investors are being concerned about a lurking world-scale lockdown.

Pct changes since the announcement of Omicron:

OX-Global WET12: -12.16%
OX-Global LNG: -10.18%
OX-Global TEK: -5.67%
OX-Global OFSH: -4.65%

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