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An article on the dry cargo market says the Baltic Dry Index rose about 8% to 1,723 on December 21, 2022, its highest since October 25, led by a sharp Capesize rally. Panamax earnings fell while Capesize gained on new cargo orders from Brazil, West Africa and the North Atlantic, with sentiment supported by China's easing of quarantine measures.
Firmer dry-bulk freight raises the cost of shipping grain from South America and the Black Sea, which can widen import-export spreads and support origin basis. Outlook hinges on Chinese demand recovery, which would tighten freight further.
gmk.centerHalina YermolenkoDec 28, 2022Not 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.
