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Ukrainian shipping data show Baltic freight indices fell sharply in May despite the mid-May agreement to extend the grain corridor for two months. The BFI dropped 37% over the month, with panamax and capesize rates falling most.
Weak Black Sea freight reflects surplus vessel tonnage and points to cheaper grain shipping out of the region. The corridor extension has not lifted rates, which keeps export freight costs low.
en.usm.mediaNinaJun 28, 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.
