Freight Rates and Fuel Costs Are Pulling Opposite Ways

Ocean freight rates rise when trade routes break, as rerouting cargo onto longer voyages lifts ton miles and demand for ships. Tom Beney, StoneX SVP of Ocean Freight, joins StoneX Senior Commodities Economist Mike Castle to explain how war, tariffs, and fuel costs reshape ocean freight rates. Beney breaks down why disrupted supply chains push ton miles higher as grain and wheat take longer routes to secure supply. He unpacks the old shipping saying that war is good for shipping, why shipowners have earned more through rerouting, and how tariffs and trade wars feed the same effect. He also weighs the near-term drag from rising shipping fuel costs against the pent-up demand that returns as populations still need feeding and energy still needs moving. Discover Actionable Insights with StoneX Market Intelligence: https://shop.stonex.com/collections/all?utm_source=youtube&utm_medium=social&utm_campaign=sxtv_guest_tom_beney&utm_content=share U.S. Corn Exports Gain From Shifting Global Trade: https://www.stonex.com/en-us/insights/u-s-corn-exports-gain-from-shifting-global-trade/ Watch the full conversation: https://www.youtube.com/watch?v=2e05Jvjpalo 0:00 Freight Rates Cut Both Ways 0:32 Ton Miles Rise as Grain Moves 1:45 Why War Is Good for Shipping 2:23 Fuel Bites Before the Rebound #Shipping #StoneX #TomBeney #MikeCastle #Wheat