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The Baltic Dry Index rose to 1,107 on May 29, 2019, breaking above 1,100 before easing back below that level later in the week. Capesize rates firmed on new fixtures for mining majors loading Western Australia iron ore for China from mid-June.
A South African port strike had little immediate effect on shipping.
Stronger Capesize demand lifts dry bulk freight costs, which feed into the landed cost of imported feed ingredients. The rate firmness is modest and could fade if fixtures slow.
seatrade-maritime.comMarcus HandMay 31, 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.
