Loading…
The Baltic Dry Index rose 8.7% to 3,192 on Friday and gained about 52% for the week, its best week since February. The capesize index jumped 10.8% to 6,237, and the panamax index hit its highest since July 2022 amid congestion in Brazil and Panama Canal restrictions.
Panamax and capesize rate spikes raise the cost of moving grain and oilseeds from South America and the Atlantic, which feeds into higher landed prices for imported feed ingredients. Analysts expected rates to stay firm in December before cooling in early 2024.
gcaptain.comReutersDec 1, 2023
marinelink.comNov 30, 2023Not 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.
