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Breakwave Advisors reports that dry bulk has had a record start to 2021, especially in sub-Cape vessel segments. Capesize futures for the second half are trading near 37,000 per day, and Supramax spot rates are in the 30,000s.
Elevated and forward-priced freight costs increase the landed cost of grain and feed ingredients shipped by bulk carrier, supporting higher delivered prices. The outlook implies freight costs will stay firm through the rest of the year.
breakwaveadvisors.comBreakwaveJun 30, 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.
