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The US barge industry is being shaped by the COVID-19 pandemic and the collapse in oil prices, with impacts varying by cargo type. Kirby Corp., the largest US tank barge operator, reported utilization around 95-97% in March driven by petrochemical customers, but warned volumes could fall if recession deepens.
Barge freight rates and utilization affect the cost of moving grain and meal down the Mississippi; a softer petrochemical-driven market could ease barge capacity tightness for feed ingredients.
marinelink.comEric HaunMay 7, 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.
