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Capesize freight rates on key Asian routes hit multi-week highs and were expected to rise further, with more than 30 fixtures reported in the week to 22 February. The gains were driven by record-high iron ore prices and rising coal shipments into China.
Capesize strength reflects bulk demand driven by iron ore and coal rather than grain, so its direct effect on feed grain prices is limited. It does indicate firm overall dry bulk freight costs.
marinelink.comJoseph KeefeFeb 23, 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.
