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Capesize rates fell sharply during the week, closing at $24,916 per day after opening at $30,169, with the Atlantic premium over the Pacific largely erased. The Panamax BPI dropped below 2,000 to end at 1,804.
A sharp fall in Capesize and Panamax rates lowers ocean freight costs for grain and feed ingredient cargoes, easing delivered prices for buyers.
businesstimes.com.sgSep 29, 2019Not 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.
