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The capesize 5TC index reached $29,641, a new high for 2020, after tight tonnage supply in the Atlantic pushed rates higher. Brazil-to-China and Australia-to-China iron ore routes also firmed, and Panamax rates rose in the North Atlantic.
Stronger capesize and Panamax rates lift ocean freight costs for grain and oilseed cargoes, adding to feed import costs. The rise is driven mainly by tonnage tightness and iron ore demand rather than grain flows.
maritimes.grmaritimesJun 29, 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.
