Reading Time: 3 minutes CNS Canada –– Ocean freight rates are at some of their lowest levels ever and will likely stay that way for at least the next two years, according to an industry analyst. “We’re near hitting bottom, but just because we hit bottom it doesn’t mean we won’t scrape along it for awhile,” said Jay O’Neil, […] Read more
Low ocean freight rates likely to stick around
Baltic Dry Index hits record low
Reading Time: < 1 minute The Baltic Dry Index fell to its lowest levels ever on Friday, which bodes well for the competitiveness of Canadian grain exports. The BDI, a gauge of global ocean freight prices, was quoted Friday at 498 points — the first time the index dipped below 500 since records began in 1985. The index was trading […] Read more
Bulk shipping cost index sinks to 30-year lows
Reading Time: 2 minutes CNS Canada –– The Baltic Dry Index, which tracks global bulk shipping rates, has fallen to its lowest levels in 30 years, which should make North American grains and oilseeds more competitive in the international market. The index (BDI) was quoted Monday at 554 points, the lowest reading since records start in 1985. The index […] Read more
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