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The Baltic Dry Index fell 3.1% to 3,519 on Oct 29, its biggest monthly drop since January 2020 and more than 30% lower for October. Declines came across capesize, panamax, supramax and handysize segments, with capesize earnings falling below $36,000 a day.
Analysts blamed weak Chinese economic sentiment and the Evergrande situation.
Lower dry bulk freight rates reduce the cost of shipping grains and oilseeds, which can ease landed costs for feed importers, though analysts still see firm underlying commodity demand. Sustained weakness in China-linked demand could keep freight pressure on the downside.
gcaptain.comReutersOct 29, 2021Not 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.
