Loading…
The Baltic Exchange's main sea freight index fell 87 points, or 6.3%, to 1,297, its steepest decline in over three months. The capesize index dropped 11.7%, driven by lower capesize demand, while panamax and supramax indices were roughly flat.
A sharp drop in the Baltic index lowers ocean freight costs for dry bulk cargoes, including grain. Weakness is concentrated in capesizes, so the effect on grain freight is limited.
scceu.orgOct 29, 2020Not 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.
