Project Description
The dry cargo market has kicked off the year with remarkable vigor, especially notable in the robust performance of Capesize freight rates. Our data reveals an impressive 10% growth in January across key sectors: iron ore, coal, and agriculture surged by 10%, 13%, and 7% respectively. What’s fueling this surge? It’s largely attributed to the plunge in commodity prices, which hit three-year lows, prompting a surge in restocking activities. Adding to the dynamics are challenges in the canals, resulting in increased tonne miles.