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The Baltic Exchange dry bulk index fell for a 13th straight session, dropping 3.5% to 1,343, its lowest since February 2021. Capesize rates fell 10.9% to a level not seen since June 2020, while panamax and supramax segments also weakened.
Weaker freight rates reflect thin cargo demand, which raises the cost of moving bulk grain and meal from origin to buyers and can soften FOB basis for exporters. Lower ocean freight generally supports landed feed ingredient prices for importers.
marinelink.comJan 25, 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.
