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S&P Global reports that Asia Pacific dry bulk freight started 2018 strongly but weakened late in Q1. Rates on North Asia to Europe and North America East and West Coast routes fell to 2018 lows, and head-haul routes are expected to recover as trade demand returns.
The article cautions that new carrier alliances could limit box rate increases.
Softer dry bulk freight rates lower the cost of moving grain and meal from origin to destination, which can narrow origin-destination spreads. Weak rates reduce the freight premium that supports ocean grain values.
spglobal.comApr 3, 2018Not 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.
