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Signal Ocean reports a sharp recovery in capesize ton-days from West Africa to China, which lifted rates in Q2. Smaller vessels struggled to hold rates, and uncertainty over extending the Black Sea Grain Initiative into July added to market uncertainty.
Uncertainty over the Black Sea grain deal could disrupt grain shipping and freight pricing if it lapses. Stronger capesize demand supports bulk freight rates generally.
breakwaveadvisors.comSignal OceanJun 21, 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.
