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| Boats were not “diverted” in the true sense of the word. Old news in Cash and futures market. Barge lines have not been placing loaded barges at gulf destinations……That is changing now. Panamax rates trading $~33000/day. Contracted Demurrage rates ( cost paid to shipowner for sitting) more painful than spot rates.
Risk/ reward says take the optional origin per contract terms and not pay incremental ocean freight as well as demurrage consequences to wait in an export lineup that you don’t know when it will move.
Nothing more….nothing less….A blip. | |
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China takes 6 cargos of Brazilian beans
