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Dry-bulk freight has reached a 13-year high in 2021, with vessels trading near $30,000 per day, about three times the long-term average. Analysts expect strong vessel demand from grains, coal, iron ore and steel to keep pressure on rates through the second half of the year.
Sustained high bulk freight raises the cost of grain and oilseed shipments from origin to import markets, which feeds into landed feed ingredient prices. Forward freight strength suggests this cost pressure will persist into late 2021.
czapp.comAnthony DiamanteAug 2, 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.
