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Capesize freight rates rose in the first week of October, supported by higher bunker fuel prices as Brent hit a four-year high near $85 per barrel. Singapore IFO 380 bunker prices topped $500 per tonne, while Chinese traders were absent during the National Day holiday.
Higher bunker costs raise the operating expense of carrying grain and meal, supporting freight rates and adding to delivered costs for feed ingredients.
seatrade-maritime.comMarcus HandOct 5, 2018Not enough comparable past events yet for a historical read.
After 323 past bullish macro events, Crude Oil (Brent) moved a median +0.7% over 5 sessions (58% higher; middle half -2.9% to +3.7%), and +1.3% 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.
