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Supramax freight rates from the US Gulf rose through late November as tonnage supply tightened while demand for petcoke and grain on fronthaul routes stayed healthy. Petcoke rates were around US$22.50 per tonne to ARA and US$53 per tonne to East Coast India.
Rising supramax rates from the US Gulf increase the cost of exporting grain and meal, which can support US export basis and landed prices in importing markets.
cemnet.comICR NewsroomNov 27, 2023Not 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.
