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The Baltic Exchange's main sea freight index dipped 1.3% to 1,470 points on November 1, 2018, its lowest since September 25. Capesize rates fell 2.5% to 2,530 points on weaker demand, while panamax ended a 10-day losing streak.
Softer capesize demand lowers dry-bulk freight costs, a minor input to landed grain and feed ingredient prices. The move is routine and reflects no major new supply-demand shift.
marinelink.comMichelle HowardNov 1, 2018Not 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.
