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The Baltic Dry Index closed the week ending June 14, 2024 at 1,948, up 81% year on year. Capesize rates ended the week lower at US$24,525 after a late-week rally faded on a gap between bids and offers in the Atlantic, while panamax rates rose strongly on Atlantic demand.
Mixed capesize and firm panamax rates signal steady but volatile dry bulk freight costs, which feed into landed grain and meal prices for feed importers. Panamax strength, the class that carries grain, points to higher ocean freight for feed grain cargoes.
thedcn.com.auDaily Cargo NewsJun 13, 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.
