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BIMCO reports the Capesize dry bulk segment has been hit hardest by coronavirus, with the Baltic Capesize index entering negative territory for the first time and average earnings around USD 2,542 per day on March 6. Smaller segments Panamax, Supramax and Handysize are climbing out of loss-making rates, helped by strong early-year Argentine grain exports of 6.2 million tonnes in January, up 34% year on year.
Weak Capesize earnings signal soft bulk shipping demand, while firmer Panamax and Supramax rates support grain freight costs for South American exports. Freight movements feed into landed feed ingredient costs for buyers.
worldmaritimenews.comMar 11, 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.
