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Bloomberg reports that capesize vessels are now carrying logs from Uruguay and grain from Brazil, cargoes normally moved on smaller ships. Dry-bulk freight has averaged about $18,000 a day this year, roughly 40% above the 2020 mean.
Tight dry-bulk supply and rising grain and iron ore exports from Brazil keep ocean freight elevated, adding to landed costs for feed importers. New vessel orders near historic lows suggest the tightness may persist into 2022.
airfreight.newsBloombergMar 24, 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.
