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The Baltic Exchange dry bulk index fell to 1,354 points, its lowest since January 17, logging a second straight weekly loss as rates declined across all vessel classes. Panamax hit a 16-month low and capesize earnings fell, though Dalian iron ore futures rose on a stronger China outlook.
Lower dry bulk rates cut ocean freight costs for grain and oilseed imports into feed-importing regions, though the weakness reflects soft demand rather than supply disruption.
indiashippingnews.comNov 30, 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.
