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Capesize and Panamax dry-bulk rates dropped sharply in the week, with the Capesize 5TC down about $2,854 to $3,413. Limited cargo enquiry and weak iron ore demand from China were cited as the causes.
Weaker bulk freight rates lower the landed cost of grain and meal cargoes, but the cause is soft Chinese demand rather than a supply shock.
worldports.orgAug 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.
