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Freight rates rose in the week to August 23, with the Brazil-Northeast Asia route reaching $39.80 per tonne and US Gulf-Northeast Asia reaching $53 per tonne. Strong Brazilian grain exports and Panama Canal delays were the main supports, with around 80 bulk carriers waiting to transit.
Rising ocean freight increases delivered costs for South American and US grain into Asia, supporting freight-linked spreads and tightening export competitiveness.
ukragroconsult.comSep 1, 2023
fastmarkets.comEoin HughesAug 28, 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.
