Bulk Ocean Freight Rates Remain Relatively Stable

This article has been reprinted from the May 17 USDA Grain Transportation Report.

Ocean freight rates for shipping bulk grains have remained relatively stable for the past 6 weeks. 

As of the week ending May 10, the rate for shipping a metric ton (mt) of grain, from the U.S. Gulf to Japan was $44 and from the Pacific Northwest to Japan was $24.50.

Over the past 6 weeks, rates have remained unchanged, fluctuating within a 1 to 2 percent range. 

According to the May 10 Transportation and Export Report, by O’Neil Commodity Consulting, rates have remained soft because the much-anticipated improvement in cargo demand has not yet materialized.