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The Baltic Dry Index climbed to a three-week high of 1,167 on 22 February as Chinese traders returned after Lunar New Year. Capesize paper rates rose sharply, with the 5-time-charter average reaching about $13,401 before easing, while physical iron ore demand from Australia picked up.
Higher dry bulk freight raises the landed cost of grain and meal cargoes moving on Panamax and Supramax ships, which can widen basis spreads for feed buyers importing from South America and Australia.
seatrade-maritime.comMarcus HandFeb 23, 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.
