Earlier this week Noah Parquette, an equity analyst at Canaccord Genuity, noted freight rates are soaring across the board thanks to delays in the Turkish Straits, structural demand changes that are shifting trade routes and other factors.
“This strength is being exacerbated by fourth-quarter seasonality as well as lower oil prices spurring consumption,” the researcher continued in an investor briefing.
“While it's likely this low oil price environment is, to some extent, pulling forward seasonal demand through stockpiling, we believe it’s also resulting in increased global consumption.”
Parquette,
