As the price of oil goes up, so does the cost of shipping. Reductions in shipping speeds mean a slower time to market, which should ultimately cause shortages for products and hence increase the cost of goods. With a 1 1/2 day lag in receiving goods, just-in-time manufacturing companies could have a harder time.
"Slowing down by 10 percent can lead to a 25 percent reduction in fuel use. Just last week a big Japanese container liner gave notice of its intention to slow down," he added.