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Capesize spot rates in the mid-$20,000s-per-day range have stalled after a sharp rally, with the Atlantic market weakening. Panamax spot rates have hit eight-year lows for the season as slow US Gulf grain exports dampen mid-size dry bulk demand.
Weak Panamax and grain-linked demand lowers freight costs for grain and feed shipments in the near term, while the Capesize rally fading signals limited upside for ocean freight into year-end.
breakwaveadvisors.comBreakwaveNov 26, 2024Not 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.
