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Atlantic Panamax and Kamsarmax dry bulk markets saw a seasonal rise in Q3 with rates back at yearly highs, though charterers doubt the strength will last into Q4. Southern fronthaul rates such as Santos-Qingdao grain had rallied about 40% from early-June lows.
Dry bulk freight rates feed directly into the landed cost of grain and oilseeds shipped from South America and the US Gulf. Expectations of a slower Q4 transition point to softer freight costs ahead.
spglobal.comOct 2, 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.
