Grain rates drop while fertilizer rates hold steady

摘要

Spot southbound grain barge rates dropped amid shrinking demand, while northbound fertilizer rates were unchanged, amid waning shipping demand. Much of the barge industry's focus is on locking in 2022 transportation contracts. Barge carriers are seeking higher contract rates. Operators seem to be in consensus that heightened operating costs — partly stemming from equipment impacts from Hurricane Ida — have necessitated higher contract freight rates next year. But market sources say it is too early to speculate on final settlements. Carriers expect spot shipping demand will remain light in the meantime.