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The Baltic Exchange main sea freight index fell to a seven-week low of 1,579 points on August 31, 2018, its seventh straight session of declines. Weaker demand for capesize and panamax vessels drove the drop, and the index fell about 7% over the week.
Capesize earnings fell to about $20,671 per day.
Lower dry bulk rates signal softer ocean freight demand, which can reduce the cost of shipping grain and meal to importers. The weakness suggests freight is not adding upward pressure on feed ingredient prices.
marinelink.comMichelle HowardAug 31, 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.
