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The Baltic Exchange dry bulk index fell 17 points to 761, its lowest since February 2023, as rates declined across capesize, panamax and supramax vessels. The panamax index hit its lowest level since May 2020.
Average daily earnings fell for both capesize and panamax vessels.
Lower dry bulk rates reduce the cost of moving grain and oilseeds by sea, which is bearish for ocean freight and can widen export basis spreads for bulk shipments.
gcaptain.comReutersJan 27, 2025Not 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.
