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Shipping Costs are Surging Globally

December 11, 2017

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The cost of moving pretty much every dry-bulk commodity — from fertilizer to salt to rocks — has surged since July, lifting the London-based Baltic Exchange’s main freight gauge to its highest in almost four years. The rally has been fired by China’s insatiable demand for coal and iron ore, more than tripling rates for giant Capesize ships that dominate both trades.

With the surge driving up shipping rate across the board, that’s bad news for agricultural traders already contending with the biggest supply gluts in years: they’re having to pay more to transport crops at a time when they can least afford it.

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