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The Baltic Dry Index averaged 4,948 in 2021, up from 1,066 in 2020, before falling 61% from an October peak to 2,217 at year end. It averaged about 1,923 in January through the 21st.
Brokers cited China lockdowns, port debottlenecking, Indonesian coal export rules and seasonal factors, with no single cause identified. Route rates such as Brazil to China fell sharply.
Sharply lower dry bulk freight reduces the cost of shipping grain and meal from Brazil and the US to Asia, which can widen export margins but also signals weaker Chinese bulk demand.
datamarnews.comGabriel MalheirosJan 27, 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.
