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Capesize rates rallied during the week of Oct 8, with the 5TC index reaching $86,953 before closing at $83,865. The Fronthaul C9 route approached $119,000, while the Transatlantic route paid a significant premium.
Panamax demand was weak in the Atlantic but held steady in Asia.
Strong capesize rates raise the cost of long-haul bulk shipments, including iron ore and coal, and can add to the cost of grain shipped on mixed fleets. Panamax weakness in the Atlantic limits the pass-through to grain freight.
balticexchange.comOct 8, 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.
