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Splash247 reports that dry bulk has been highly profitable in March, with strong outlook on alternative cargoes. It also notes China's Covid lockdowns affecting steel output, a 30% share of GDP shuttered, and iron ore prices rising to $150.75 per tonne.
China's lockdowns reduce industrial and feed-related demand and add uncertainty to bulk shipping volumes. Strong March freight earnings reflect tight vessel availability from rerouted grain flows.
splash247.comSplashMar 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.
