Loading…
Capesize freight rates on Asian routes firmed as bad weather in China and Australia tightened available ships, with Brazil-China rates reaching a 15-month high. About 80 capesize and panamax ships were queued to unload at Tianjin and Caofeidian due to fog and smog.
Port congestion and vessel shortages raised ocean freight costs for bulk cargoes, which raises landed costs for imported feed ingredients. The rally was driven by temporary weather disruption rather than a lasting demand shift.
marinelink.comJoseph KeefeJan 5, 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.
