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The Baltic Exchange's main sea freight index fell 3.8% to 1,096 on January 10, 2023, as panamax rates dropped to their lowest level in two years. Capesize and supramax rates also declined, while China's COVID reopening optimism lifted iron ore futures.
Falling panamax rates, which carry grain cargoes, lower ocean transport costs for feed grains and meal, but expected Chinese demand recovery could later support freight.
marinelink.comJan 10, 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.
