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Capesize freight rates for 180,000 DWT ships on Asian routes hit three-year highs this week, with Australia-China rates expected to break $10 a tonne and Brazil-China possibly surpassing $20. Brokers cite a shortage of ships available for prompt charter, weather delays in China and heavy Brazilian activity.
Higher capesize rates raise the landed cost of iron ore and coal and tighten ocean freight capacity, which pushes up ocean grain freight costs for feed importers.
marinelink.comEric HaunNov 30, 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.
