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Capesize freight rates on key Asian routes are expected to drift lower as vessel supply outpaces cargo demand, though rates remain roughly double last year's level. Western Australia-China and Brazil-China rates are forecast to slip toward about $5 and under $11 per tonne respectively.
Lower capesize rates reduce ocean freight costs for dry bulk cargoes, modestly easing landed costs for imported feed raw materials. The decline reflects weak demand relative to fleet capacity.
marinelink.comJoseph KeefeJan 12, 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.
