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Dry-bulk freight rates recovered to 2020 highs in early July, with Cape and Kamsarmax rates well above their May lows. Iron ore demand from China and miners maximising throughput drove the gains.
Analysts expect a softer Q3 as a second COVID-19 wave threatens demand.
Freight strength tied to iron ore may persist, but a demand slowdown would ease the cost of moving grain and oilseeds.
scceu.orgscceuJul 17, 2020Not 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.
