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The Baltic index rose 9 points to 506, extending a 13-session run of gains, as the Panamax index climbed 3% to 811, its highest since January 21. Supramax rose to 543 while capesize fell 13 points to -239.
Stockpiles at China's ports fell to 128.6 million tonnes as of February 21 from 130.65 million a week earlier.
Stronger panamax and supramax rates, the vessel classes that carry grain, raise the cost of moving grain and feed ingredients by sea. Falling Chinese port stockpiles point to weaker import demand, which limits how far freight can rise.
drybulkmagazine.comJessica CaseyFeb 26, 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.
