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Transport Topics reports that ocean container spot rates have dropped sharply from their peak, with rates down 61% year over year. Slowing US demand has freed capacity and eased the tight market.
Cargo bound for the US is about 30% lower than in 2021.
Lower ocean freight and slowing US import demand reduce logistics costs for feed ingredients. The effect on grain export freight is indirect since the article focuses on containers.
ttnews.comKatie PyzykNov 4, 2022Not 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.
