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Shipping costs for commodities by sea surged to the highest level in almost nine years, according to Bloomberg, as vessel owners began taking carriers off hire to prepare them for new fuel rules. The Baltic Dry Index tracks freight for coal, iron ore and grains.
Higher bulk freight and vessel withdrawals tighten ocean capacity, raising the landed cost of imported grains and meals; the fuel transition adds further cost pressure.
bloomberg.comBill Lehane, Firat KayakiranAug 30, 2019Not enough comparable past events yet for a historical read.
After 36 past logistics events, Crude Oil (Brent) moved a median +0.2% over 5 sessions (50% higher; middle half -4.6% to +3.2%), and +1.5% over 20.
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.
