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The Suez Canal has extended discounts for dry bulk and tanker vessels through the rest of 2020. The discounts aim to bring ships back to the canal after lower fuel prices led many to take the longer route around Africa.
The article is largely a summary of the discount extension.
Lower canal fees and a return of ships to the shorter route can ease freight costs on Black Sea and Asian grain routes, putting modest downward pressure on delivered prices.
shippingwatch.comJun 24, 2020Not 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.
