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Kamsarmax and Supramax dry bulk freight rates fell sharply in January 2019, with TCE rates down about 40-44% from October averages. The decline is tied to a slowdown in China and a turbulent start to the year.
Rates are now near levels last seen in mid-2017.
Lower ocean freight costs reduce landed costs for grain, meal and other bulk feed ingredients moving to Asia. Weaker tonne-mile demand from China is bearish for freight pricing.
spglobal.comFeb 1, 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.
