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Bulk carrier queues at global ports reached a record high of about 142m dwt, with China accounting for an all-time high of 52.7m dwt, driven by COVID-19 restrictions tied to the delta variant. Congestion outside China follows its normal seasonal pattern tied to harvests and weather.
The analysis says the congestion is tightening effective fleet supply and pushing freight rates to record levels.
Vessel queues in China reduce effective fleet supply and keep dry bulk freight elevated, raising the landed cost of grain and meal imports.
breakwaveadvisors.comBraemarAug 21, 2021Not 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.
