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The Baltic Dry Index rose 235 points, or 4.7%, to 5,197 on 29 September, its highest since September 2008, with the capesize index up 8.4% to 9,018. BIMCO attributed the gains to strong spot fixtures by major iron ore exporters and congestion around China.
Sustained high dry bulk rates increase ocean freight costs for grain and oilseed cargoes, which can narrow import margins for feed buyers and support delivered feed prices.
gcaptain.comReutersSep 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.
