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The Baltic Dry Index is on track for one of its largest annual falls on record, down 33% year to date, after falling 29% in November to 1,292 on November 25. Capesize earnings fell 36% in the first 25 days of November, with weakness linked to Chinese COVID lockdowns and protests.
Weak dry bulk demand from China signals reduced industrial and commodity import appetite, and high freight costs earlier in the year have eased, lowering shipping costs for feed grain exports.
splash247.comSplashNov 29, 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.
