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Capesize timecharter average fell 20% over the week to $13,956 as activity rose but rates slid under downward pressure. Panamax market softened further, with P1A route rates in the $8,000s and Indonesia demand absorbed by smaller tonnage around $5,000.
Sharp freight declines lower the cost of moving bulk commodities, though they also point to weaker shipping demand that can pressure ocean freight-linked feed ingredient prices.
maritimes.grmaritimesMay 29, 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.
