Storm Update – Hurricane Ian – Level 3 Alert

Although Hurricane Ian passed through Florida over a week ago now, recovery efforts are still underway. The storm now ranks among the top 10 costliest storms ever in the US, with damage estimates ranging from $40-$55 billion dollars. Although 90% of power outages have been resolved, over 200,000 electric customers still lack power. Search and rescue efforts continue in areas hard-hit by the storm.

Fuel supply in Florida has been able to spring back to improved levels, with barge shipments of fuel flowing to Florida’s major ports. Having supply, though, is only half the equation. Trucking capacity has also improved significantly, though some areas may still face delays this week due to on-going recovery and carrier constraints.

Mansfield has reduced to Level 3 Alert – meaning fuel and freight markets are still being actively monitored and some delivery constraints are still in place.

Florida, Georgia, and North Carolina remain at Code Orange, requesting 48-hour notice for new orders to ensure delivery windows can be met. South Carolina moves to Code Yellow, meaning Mansfield requests at least 24-hr notice for new orders. Virginia, which had been facing supply challenges in Roanoke before the storm, continues facing constraints and will remain at Code Red (72-hrs). These delivery windows are expected to continue through the end of this week.

 

Market Condition Report - Disclaimer
The information contained herein is derived from sources believed to be reliable; however, this information is not guaranteed as to its accuracy or completeness. Furthermore, no responsibility is assumed for use of this material and no express or implied warranties or guarantees are made. This material and any view or comment expressed herein are provided for informational purposes only and should not be construed in any way as an inducement or recommendation to buy or sell products, commodity futures or options contracts.

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