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Spot dry bulk freight rates peaked in early October and have since weakened, with MSI expecting seasonal declines until the New Year. China's October coal deliveries fell 27% from September, while US soybean shipments to China are near their seasonal peak.
Expected seasonal decline in panamax and handymax demand for US soybean cargoes should lower ocean freight costs, though strong Phase One soybean buying partly offsets the softening.
seatrade-maritime.comLee Hong LiangNov 23, 2020Not enough comparable past events yet for a historical read.
Not 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.
