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Commodore Research reports that dry bulk rates were mixed in the week ending September 19, with Capesize falling 8% to an average of $25,620 per day and Panamax rising 10% to $12,849 per day. Chinese coastal coal freight rose by the largest amount since early July, and Vale raised its 2024 iron ore production guidance.
Mixed freight moves show no clear trend in ocean costs, so the net effect on feed import landed prices is limited, though the Panamax rebound signals firmer grain freight demand.
breakwaveadvisors.comCommodore Research, ConsultancySep 19, 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.
