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ALLIED Shipping Research says the US-China trade war is weighing on dry bulk markets. China's expanded tariffs on US agricultural products, including soybeans, hit a trade that dry bulkers usually serve during the US harvest season.
ALLIED expects lower demand forecasts for the sector.
Losing US soybean flows to China removes a seasonal freight peak for bulk carriers, which weakens ocean freight rates. Broader trade losses could also reduce dry bulk demand for raw materials.
worldmaritimenews.comApr 13, 2018Not enough comparable past events yet for a historical read.
After 803 past bearish trade events, Soybeans moved a median +0.0% over 5 sessions (51% higher; middle half -1.7% to +1.7%), and +0.9% 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.
