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Breakwave's February 16 weekly report says dry bulk freight is reviving across all sizes, with supramax and handysize showing an unexpected upturn after the Lunar New Year lull. Chinese regulators moved to curb iron ore price increases, and seaborne iron ore fell more than 8% on the announcement.
Australia-China trade tensions are also prompting Port Hedland shippers to diversify customers.
A freight recovery supports ocean grain rates, while Chinese steel and iron ore controls point to softer industrial demand for bulk shipping over the near term.
breakwaveadvisors.comSignal OceanFeb 16, 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.
