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The Baltic Exchange Capesize timecharter average closed at US$21,674 in late May 2024, about US$500 lower week on week but US$5,000 higher year on year. Panamax activity was mostly flat, with firmer rates in Asia and steady grain and mineral demand from the Americas.
Stable to firm Panamax rates on Asian grain routes keep ocean freight costs elevated for feed importers. Week-on-week softness in Capesize rates offers little relief to landed grain costs.
drybulkmagazine.comOliver KleinschmidtMay 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.
