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Supramax bulk carriers are earning a premium over Panamax vessels, with average waiting times at ports rising to 16.43 days. Grain cargoes are arriving quickly and creating congestion.
The article attributes the premium largely to this port congestion.
Port congestion lengthens voyage times and absorbs vessel capacity, which tightens supply of ships and supports freight rates for grain cargoes. Higher freight costs can narrow the export margin for grain.
tradewindsnews.comHolly BirkettAug 28, 2024Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
