Ports are running out of space to store containers, which is driving up rents and property values and spurring more investment in coastal outdoor-storage properties. The land rush is the latest example of how a rise in shipping, prompted by strong consumer demand for goods during the pandemic, is shaking up the real-estate sector. Vacant lots that can be used to stack loaded containers waiting for rail or truck hookups are experiencing a surge in demand.
U.S. natural-gas prices plummeted after an LNG shipping facility in Texas said a fire last week would knock out the facility until late this year, greatly reducing export capacity. Natural-gas futures yesterday dropped more than 16%. Word that repairs to the plant won’t be completed until late 2022 means shale gas that had been slated to be shipped abroad will now be socked away for domestic use this winter.
