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Dry bulk freight markets opened 2021 with a rebound, with the Panamax spot rate climbing from $10,800 per day before Christmas to $12,695. Q1 forward freight values rose to $11,900 per day from $8,900, and strong demand for iron ore, coal and grain into China is adding to port congestion.
Firmer freight rates and port congestion raise ocean transport costs for grain and feed ingredients, which tends to widen delivered import prices.
czapp.comAnthony DiamanteJan 13, 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.
