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Bulk shipping rates rebounded through the second half of 2020 as demand recovered after spring lockdowns. Mid-sized panamax vessels were supported by record US soybean exports and strong grain shipments from the Black Sea and other Northern Hemisphere origins.
The article expects freight costs to rise further in 2021.
Higher panamax and ocean freight costs raise the landed cost of grain and soybean exports, narrowing origin price spreads and supporting freight-linked values for buyers. Strong ton-mile demand from long-haul Americas-to-China trade keeps upward pressure on rates.
world-grain.comMichael KingFeb 12, 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.
