Dry bulk spot rates in decline

   Stifel Nicolaus reports that dry bulk spot rates have declined as seasonal softness in demand has resulted in a decrease of activity.
   Additionally, heavy rains have hampered iron ore loadings in Brazil and Australia, but the hardest hit segments of the dry bulk space have been the Panamax and Supramax segments, which transport largely minor bulks and grain. According to Stifel’s weekly shipping report, transportation of these commodities tends to be more linked to underlying global commodity demand and not as tied to Chinese buying patterns. 
   Stifel indicated that a good harvest and high crop yields would benefit dry bulk demand and would also be very positive for South American barge operators.