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FreightWaves reports that US river tank-barge demand is strong as petrochemical customers stock up on supplies amid coronavirus disruption, with Kirby Corp. running at about 97% utilization. The company warns that a US recession could lead petrochemical plants to cut volumes, particularly in less efficient European plants first.
Strong barge utilization reflects logistics tightness in petrochemical freight, while the warning of future volume cuts points to weaker barge freight demand if recession takes hold; the direct effect on feed commodity prices is limited.
freightwaves.comGreg MillerMar 23, 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.
