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The Capesize market rallied sharply in the week to 24 September, with the 5TC index closing at $61,309 after opening near $53,240. Gains were driven by Pacific fixtures, where West Australian charterers faced limited tonnage after weather disruption in eastern China, and by Transpacific and Atlantic fronthaul demand.
Higher dry bulk freight rates raise the landed cost of imported feed ingredients such as soybeans and corn shipped by sea, and tighter tonnage supports ocean freight costs for grain exporters.
balticexchange.comSep 24, 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.
