Loading…
Forward freight agreements for Capesize and Panamax dry bulk vessels fell sharply on March 16, with the April-December Capesize contract down 12% to $10,778 per day and the 2021 Capesize contract down from $14,000 at the end of February. Star Bulk executives argued demand would recover soon after the virus peaks.
Falling FFA curves signal market pessimism about bulk shipping demand through 2022, which tends to keep ocean grain freight rates under pressure. Lower freight supports grain export competitiveness but reflects weaker global industrial activity.
freightwaves.comGreg MillerMar 16, 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.
