Loading…
The Signal Ocean weekly dry bulk report says freight rates weakened across all vessel sizes in late July, with more ballast vessels and falling Capesize demand. It also notes Russia's decision not to extend the Black Sea grain agreement and China's pledge to boost domestic demand.
Softer dry bulk rates reflect weak cargo demand, particularly for iron ore and grain, which lowers freight costs for grain buyers. The Black Sea uncertainty adds upside risk to grain prices but is not yet reflected in freight rates here.
breakwaveadvisors.comSignal OceanJul 26, 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.
