Key Takeaways:
Dry bulk markets saw diverging trends this week as Capesize vessel rates surged on strong demand while Panamax and smaller vessel classes saw mostly steady/firmer trade. The situation in the Persian Gulf continues to deteriorate with hopes for an Iran-Oman managed system of transiting the Strait of Hormuz all but abandoned at this point. The world’s energy trade is increasingly desperate get oil and products out of the Arab Gulf, and are increasingly chancing “running the strait”, which is supporting VLCC and other tanker classes. Booking availability is tight in the Panama Canal with 100% Panamax utilization rate and a 94% overall utilization rate. There are still opportunities
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Energy: Fewer Routes, More Pressure Brent crude is back above $100, while WTI has closed higher for seven consecutive sessions as multiple supply routes come under pressure and the market runs out of workarounds. U.S. forces destroyed five Iranian crude-oil carriers Tuesday after Iran attempted...
Beef packer margins declined to $199/head last week, down $60 from the prior week as the Choice cutout retreated while fed cattle prices were steady. The cutout fell nearly $8/cwt to $374/cwt, while fed cattle held near $219/cwt, narrowing packer spreads after their sharp August recovery. Despi...
WPI Grain Prices and Freight Rate App Note: you can also visit the app directly by clicking here. Supplemental Information The section below offers a concise view of the options available in the current version of the WPI FOB Price and Freight Rate app, along with a short “How To”...
