Financial Times FT.com

Dry bulk freight costs at record high

By Javier Blas in London

Published: August 29 2007 20:27 | Last updated: August 29 2007 20:27

The cost of dry bulk carriers, the traditional ship for transporting wheat and other grains, has surged to a record high, forcing some countries to import cereals in containers more usually used to carry electronic goods and clothes.

Shipbrokers estimate that, on average, a dry bulk shipment currently costs $50-$70 (€36-€51, £25-£35) per tonne of cereal. The same cargo in a container costs $35-$40 a tonne.

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