Higher freight costs set to hit profit margins for grain exporters
US wheat exporters look to be the hardest hit as ship owners prepare to crank up rates, expecting a clamour for their vessels. The biggest hike may be to the major Middle Eastern market — giving smaller producers situated nearer the region a price edge.
“When it comes to the grain season ex US we believe this will be a strong season and we believe the same will be the case with the season ex Black Sea,” said Jens Ismar, chief executive of shipping group Western Bulk.
