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Breakwave's weekly dry bulk report says freight rates weakened in January 2023 across capesize, panamax and supramax segments, with more ballast vessels and lower demand growth. It notes that hopes for a Chinese reopening boost to iron ore imports have not yet lifted rate sentiment.
Weaker spot freight rates lower the cost of moving grain and oilseeds by sea, which can narrow origin-destination spreads for feed importers.
breakwaveadvisors.comSignal OceanJan 19, 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.
