Grain shipping rates hit a record high

Lead: Reuters London, October 10 Reuters London, October 10 Reuters: analysts and shipping brokers said Friday that dry bulk shipping rates continued to soar, setting a new record high, while at the beginning of the U.S grain export season, the upward trend of shipping costs showed no sign of stopping Analysts at guy Clarksons say Panamanian shipping rates have surpassed all their highs since 1970 on major export routes Considering the price fluctuation, the shipping cost is now absolutely the highest level in history On Friday's key route from the Gulf to Japan, grain shipping rates have reached $45 a tonne, far higher than last week's $39, according to rolls aldran, an analyst at the company The average price of Panamanian class time charter ships on the guy Baltic Exchange reached $36830 a day, up nearly $10000 since last Wednesday The average price is a barometer of the shipping market Guy brokers say Panamanian shipping rates in the Pacific are as high as $45000 a day According to the maritime newspaper, a Chinese charterer ordered freight of 48000 US dollars per day The fundamentals are quite strong and will continue to be as they are in the future, adelan said With the grain export season beginning in the United States, freight rates are likely to rise, forcing people to rush to book freighters, said guy adelan Analysts and brokers say there is no doubt that high shipping rates will affect consumers, as key grain prices will rise as freight rates rise Guy analysts have previously said that China's strong demand for iron ore and coal has been the main reason for the sharp rise in shipping rates over the past three weeks China will hold the Olympic Games in 2008, so the demand for some iron ore is related to China's investment in infrastructure construction The rapid development of China's economy has also greatly increased domestic demand for raw materials, and this trend will continue Guy analysts said that the Capesize shipping market is mainly affected by the soaring freight rate of Panamanian class ships, which is expected to significantly exceed the current average price of $70000 per day Analysts at Clarkson said that in the spot shipping market (short-term shipping market), the shipping rate from Brazil to China was quoted at $72270 per day On Thursday, a broker said that on current trends, Capesize shipping rates could reach $100000 a day GuY