Shipments of timber and grain are being loaded onto a class of ship normally reserved for other cargo as strong demand to move commodities causes dislocations to the supply of vessels.
Logs from Uruguay and grain from Brazil are set to be loaded giant Capesize ships this month or next, according to shipping data from S&P Global Platts. The vessels are normally used to transport coal and iron ore – the industry’s two main cargoes. By contrast, timber typically gets moved on smaller vessels, according to Genco Shipping & Trading Ltd. Chief Executive John Wobensmith.
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