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Capesize rates fell $3,502 week on week to $9,305 by November 18, with Transatlantic and Transpacific routes both weaker. Panamax rates were also under pressure, with minor corrections and a negative tone, despite news of extended Ukraine grain exports.
Falling capesize and panamax rates lower bulk freight costs for grain and oilseed shipments, but the weak tone reflects soft Chinese and global demand that may weigh on overall trade volumes.
hellenicshippingnews.comhellenicshippingnews...Nov 21, 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.
