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Supramax/Ultramax freight rates are firming as fronthaul demand grows and spot tonnage tightens. Petcoke freight from Houston to ARA rose to about $25/t, up $5/t month on month.
Owners are gaining leverage as US grain offers are expected to increase.
Stronger USG supramax freight raises the cost of shipping US grain and meal to export markets, which can widen US Gulf export basis and slow the start of the US grain season.
cemnet.comICR NewsroomOct 25, 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.
