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Capesize and Panamax freight rates fell sharply in the past two weeks on weak sentiment about China, with Capesize front-haul dropping from about $44,000 to $35,000 per day. The Panamax time charter average is down 50% from its March 2024 peak, while Supramax rates held relatively stable.
Lower Panamax and Capesize costs reduce ocean freight for grain and meal cargoes, though sustained weakness reflects soft Chinese import demand that could weigh on feed commodity prices.
midship.comFrankOct 31, 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.
