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Capesize dry bulk rates collapsed in October, with the BCI down about 47% month-to-date after rising 18% in September. Freight from Brazil to China fell 25% and Australia-China iron ore freight dropped 23%, with Panamax coal routes also weakening.
Weak Chinese demand for iron ore and coal is cutting seaborne freight earnings, which reduces shipping costs for bulk grains and oilseeds only indirectly; the main effect is on freight-linked logistics costs for feed importers.
splash247.comSplashOct 29, 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.
