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Maritime Strategies International forecast a positive short-term outlook for dry bulk freight rates, noting that most Baltic indices reached their highest levels of the year. Capesize spot rates hit almost $20,000/day in late March before easing to about $15,000/day, and Panamax rates rose above $11,000/day for the first time this year.
MSI expects support to fade in the second half, citing large iron ore port stockpiles.
Higher ocean freight rates raise the landed cost of imported feed ingredients and grains, which can widen basis and import margins. MSI's expectation of weaker second-half support suggests freight costs may ease later in the year.
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The Maritime ExecutiveApr 18, 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.
