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Cargill's ocean transportation president said many large dry bulk ships will be out of service for at least 25 days each for scrubber installation before the IMO 2020 sulphur rules take effect on January 1, 2020. Capesize earnings have already risen above $26,000 a day after lows under $3,500 earlier in the year.
Temporary removal of capacity for scrubber refits tightens dry bulk supply and is expected to keep freight rates elevated in the second half of 2019, raising shipping costs for grain and feed ingredients.
marinelink.comJonathan SaulJul 9, 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.
