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The Baltic Exchange's main sea freight index fell 43 points to 1,560 on March 16, snapping a 19-session winning streak. The Capesize and Panamax segments weakened, while Supramax edged up.
Iron ore and Chinese steel futures also fell amid banking-crisis worries.
A sharp one-day drop in the freight index lowers near-term ocean shipping costs for grain and feed, though the broader trend remains firm. The move is a routine market wrap with no lasting supply change.
gcaptain.comReutersMar 16, 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.
