However, there’s an indirect consequence on the shipping industry when certain government offices are shuttered. The closure of the National Agriculture Statistic Service, for instance, has meant farmers and commodity buyers don’t have access to their usual demand, supply, and price reports. In turn, since these growers don’t know what their goods are worth, they’re not selling many, if at all. Ditto on the buying end.
But what does that have to do with maritime shipping, and dry-bulk shipping in general? If the food commodity market has ground to a halt, then the need to ship dry-bulk goods has also been crimped. Once the key agricultural offices reopen and price information starts flowing again, demand for transportation services will ramp up.
First in line for that rebound is small cap shipper DryShips (DRYS), which has seen its shares slide 13% since their late-September peak.