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The Baltic Dry Index climbed to 1,449 points on September 20, its highest level of the year, with capesize 5 time charter average rising to $20,694. Brokers expected further gains, citing strong Brazilian fixtures and robust Chinese commodity demand, though Chinese mill output cuts pose a risk.
Rising capesize rates driven by Brazilian grain and iron ore demand increase freight costs for bulk grain shipments, supporting higher ocean freight and making origin grain less competitive in distant markets.
seatrade-maritime.comMarcus HandSep 21, 2017Not 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.
