# Baltic Dry Index Logs Fifth Straight Weekly Drop

> The Baltic Dry Index fell for a fifth straight week to 621, its lowest since mid-June 2020. The capesize and panamax sub-indices also dropped sharply, with panamax earnings down to $8,456 per day.

- Date: 2023-02-03 · published 2023-02-03T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/37220-baltic-dry-index-logs-fifth-straight-weekly-drop
- Commodities: [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md)

## Why it matters

Weak dry bulk freight rates reflect soft demand for seaborne commodities, lowering ocean freight costs for grain and feed ingredient importers.

## Read by commodity

- OCEANFRT: bearish ▼

## Sources

- gcaptain.com: https://gcaptain.com/baltic-dry-index-logs-fifth-straight-weekly-drop/

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