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Jones Act tanker freight rates for moving refined fuel from the US Gulf Coast to the East Coast have collapsed from several times their earlier levels. Freight costs in 2013 to 2014 had reached 10 to 15 cents per gallon to Florida and Georgia ports, and the author expects rates may fall further before stabilizing.
The collapse in coastal tanker costs mainly affects refined fuel logistics and has little direct bearing on feed grain or protein prices. It may modestly reduce delivered diesel costs for ag logistics.
opis.comOct 10, 2017Not 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.
