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Dry bulk freight rates have dropped but may be plateauing, per MID-SHIP Group, with fleet growth strongest in three years. The Baltic Dry Index rose 25 points to 849.0 on June 9, 2017.
High water on the Lower Mississippi has cut tow sizes by 5-10 barges and added 2-3 days to Cairo-to-Gulf transits.
Higher river water constraints raise barge costs and slow grain movement to Gulf export positions, supporting Gulf basis and freight. Softer ocean freight reduces import costs for dry bulk commodities.
steelmarketupdate.comSandy WilliamsJun 10, 2017Not enough comparable past events yet for a historical read.
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.
