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The Baltic Panamax Index rose above $10,000 in the week of May 13 to 17, driven by South American demand for Kamsarmax vessels. Capesize rates held in a generally upward trend, and Vale warned that another Brazilian dam was at risk of rupture.
The mine involved has been inactive since 2016.
Firmer Panamax and Capesize rates raise bulk freight costs on South American grain and oilseed routes. The dam warning has limited direct effect on iron ore flows because the mine is already idle.
naftemporiki.grMay 19, 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.
