Freight boom fires Buffett trains, Maersk ships and oil prices ...Qatar

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Freight boom fires Buffett trains, Maersk ships and oil prices
A great global restock is at hand, filling ships, trucks and trains, and also firing oil demand. During the depths of China’s coronavirus crisis at the start of the year, shipping behemoth A.P. Moeller-Maersk reported an unprecedented number of cancelled sailings as the Asian country all but shut itself off from the world. Since then, the company’s shares have surged to the brink of a record in Copenhagen. In the US, BNSF Railway Co, the freight giant owned by Warren Buffett, is riding a boom that’s pushed the number of carloads and containers it hauls up year-on-year in recent weeks. A shift in consumer behaviour, particularly in western countries, has driven oil prices above $50 a barrel

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