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Drewry cut its 2018 ocean carrier profit forecast from US$5 billion to breakeven at best, citing a surge in bunker fuel costs in the first quarter. Charter rates for panamax 4,500-5,500 TEU ships rose 45 percent year on year.
Higher bunker costs and surcharges raise container freight rates, which affects the cost of importing feed ingredients and exporting agricultural goods. Ocean freight costs for feed buyers are likely to stay elevated.
fruitnet.comLuisa Cheshire 2018-06-20T14Jun 20, 2018After 113 past bullish logistics events, ULSD / Diesel moved a median +0.6% over 5 sessions (54% higher; middle half -2.8% to +4.2%), and +0.2% over 20.
Not 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.
