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Bulk shipping costs are rising as commodity demand recovers and prices approach historical peaks. Bimco reported record bulk demand of 1.69 billion tonnes in the first four months of 2021, and shipowner earnings have risen sharply.
Capesize earnings in May were more than nine times higher than a year earlier.
Higher freight rates raise the landed cost of imported feed ingredients and widen the gap between FOB and delivered prices for exporters such as the US. Buyers should expect freight to keep pressuring delivered feed costs.
world-grain.comMichael KingJul 19, 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.
