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Dry bulk freight rates were mixed in the week reported, with Capesize rates falling while rates in the rest of the market rose. Analysts see Panamax tightness in the Atlantic basin and expect Capesize strength in the second half of 2021, supported by Brazilian iron ore export growth.
Brazil's iron ore exports reached 33.7 million tonnes in the month cited.
Tighter Panamax availability in the Atlantic basin supports freight costs for grain cargoes. The effect on feed ingredient prices is modest given the mixed rate picture.
breakwaveadvisors.comCommodore Research, ConsultancyJul 5, 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.
