World Perspectives
07 July 2020 – Analysis

Interactive Ocean Freight Rates (Updated 7 July)

By Matt Herrington for Ag Perspectives

Ocean Freight Insights and Comments - 2 July 2020 By Jay O'Neil Commodity Consulting Capesize dry-bulk vessels must be using rocket fuel in place of VLSFO as that market continued to skyrocket this week. Capesize owners and sellers felt embolden by the tight supply of available vessels in the Atlantic, and the continued support in paper trading markets. The rally continues to be motivated by increased shipments of iron ore from Brazil, Australia, Canada, and South Africa to China.  Vessel owners now feel that the good days are back and here to stay. Daily hire rates on Capes reached $31,377/day. Panamax and Supramax markets were supported by the excitement in the Capesize market but could not gain as much enthusiasm. Phy...

TAGS – North America, Europe, South America, Black Sea, Middle East & Africa, Asia, Freight

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Communicating importance of value-added products

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