# Baltic index down for second day on lower rates across vessels - Shipping Herald

> The Baltic Exchange dry bulk index fell for a second straight session on August 27, losing 41 points to 1,721. Capesize, panamax and supramax rates all declined. Iron ore futures rose to a near three-week high on Chinese steel buying ahead of peak season.

- Date: 2024-08-28 · published 2024-08-28T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/29006-baltic-index-down-for-second-day-on-lower-rates-across-vessels-shipping-herald
- Commodities: [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md)

## Why it matters

Lower dry bulk rates reduce the cost of shipping grain and oilseeds on bulk vessels, which can weigh on freight-sensitive export margins. The index is a broad freight gauge rather than a grain-specific driver.

## Read by commodity

- OCEANFRT: bearish ▼

## Sources

- shippingherald.com: https://www.shippingherald.com/baltic-index-down-for-second-day-on-lower-rates-across-vessels/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.