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The Business Times weekly roundup reports capesize rates rising from $18,930 to $23,865 on the Capesize 5TC, with Brazil loading windows for late December tightening tonnage. Panamax gains were led by the Atlantic, with East Coast South America grain front-haul activity noted.
Tightening tonnage on the Brazil and Atlantic routes raises ocean freight costs for grain and soybean exports, which can widen the premium for US and Argentine origin cargoes into Asia.
businesstimes.com.sgDec 1, 2019Not 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.
