# Dry bulk freight market set for a cautious journey - CRU Group

> CRU reports the Baltic Dry Index fell 39% in May, led by capesize declines tied to China's slowing recovery. It forecasts time charter rates to fall further in Q3 and Q4, with 2023 rates down about 32% year on year.

- Date: 2023-06-21 · published 2023-06-21T12:00:00.000Z
- Category: logistics · region Global · magnitude low
- Page: https://feedsoft.ai/events/35705-dry-bulk-freight-market-set-for-a-cautious-journey-cru-group
- Commodities: [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md)

## Why it matters

Expected falls in dry bulk charter rates and added fleet supply point to lower ocean freight costs for grain and oilseed cargoes. Cheaper freight can narrow import landed-cost spreads for feed ingredients.

## Read by commodity

- OCEANFRT: bearish ▼

## Sources

- crugroup.com: https://www.crugroup.com/en/communities/thought-leadership/2023/dry-bulk-freight-market-set-for-a-cautious-journey/

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