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Bulk carrier markets have held up despite Shanghai lockdowns, with Capesize rates tripling since April 19 to a 5TC average of $34,531 by May 18. Panamax time charter averages remained steady and profitable, and grain export volumes this year already exceed 200 million tonnes.
Iron ore freight from Australia and Brazil to China rose sharply.
Sustained grain export volumes and firm panamax rates keep ocean freight costs elevated for feed ingredient imports into Asia and other importing regions.
splash247.comSplashMay 24, 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.
