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Platts data cited by World Ports Organization shows dry bulk freight rates weakened in Q2 2022, with the Cape T4 index averaging about $18,072 per day. Shipping sources expect headwinds in Q3 as central bank rate hikes and inflation curb commodity demand.
Buyers are reducing inventories and holding off on larger cargo purchases.
Softer dry bulk freight rates lower the transport component of grain and meal import costs. Weaker demand for raw materials also points to softer seaborne volumes.
spglobal.comJul 4, 2022spglobal.comShriram Sivaramakrishnan, Nicholas ZhangJul 4, 2022
worldports.orgJul 4, 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.
