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Capesize bulk charter rates fell as Atlantic supply outstripped demand and oil prices dropped amid renewed COVID-19 lockdowns in Europe, according to brokers. Rates for vessels such as Hsin Chien Marine's New Mighty dipped on Thursday.
Lower capesize rates reflect weaker dry bulk demand and cheaper bunker fuel, which points to lower ocean freight costs for bulk commodities. Falling oil prices also signal softer energy markets.
tradewindsnews.comMichael JulianoOct 29, 2020Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
