Business: freight shipping rates climb

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Investor interest in the shipping sector is growing as freight rates are rising. Shares in shipping companies are having a bumper year amid strong demand for Asia-made goods and skyrocketing shipping prices. Profits have accelerated, boosted by soaring freight rates from North Asia to the U.S. and Europe.

The oil industry’s top lobbying group is preparing to endorse setting a price on carbon emissions in what would be the strongest signal yet that oil and gas producers are ready to accept government efforts to confront climate change. The American Petroleum Institute is poised to embrace putting a price on carbon emissions.

Royal Caribbean's new ship, the Odyssey of the Seas, will be setting sail in May from Israel with a Covid-19 vaccine requirement. The announcement represents the new ship's first trip, Royal Caribbean's first voyage from Israel, and the company's first cruise with a vaccination requirement.

Futures are moderately lower after stocks soared yesterday. The Dow Industrials rallied 603, the Nasdaq jumped 396 and the S&P 500 gained 90.