World Perspectives

FOB Prices and Freight Rates App (Updated 13 November)

Ocean Freight Comments - 8 November 2024By Matt HerringtonDry-Bulk Freight Dry-bulk freight markets were weaker once again and continue the trend that has been present for the past 15 weeks. Rates for Panamax grain from the U.S. to Asia hit new yearly lows this past week and have fallen about $10/MT since August. The culprits of the weaker markets remain the same: slow economic growth in Asia (particularly China) has curtailed cargo demand and led to vessel overcapacity. The freight markets are also approaching the holiday period, when demand is especially slow and markets tend to float sideways with little volatility or direction. Capesize markets seem to have found a bottom over the past few weeks and vessel owners are hopeful for a...

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