# Rough start to 2023 for dry bulk, tanker, gas, container shipping

> The Baltic Dry Index fell to 740 points on January 23, its lowest since June 2020 and down 41% year to date. Capesize spot rates were near cash breakeven as seasonal weakness and China's COVID policy weighed on bulk demand.

- Date: 2023-01-23 · published 2023-01-23T12:00:00.000Z
- Category: market · region Global · magnitude medium
- Page: https://feedsoft.ai/events/37677-rough-start-to-2023-for-dry-bulk-tanker-gas-container-shipping
- Commodities: [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md)

## Why it matters

Sharply lower dry bulk rates reduce the cost of shipping grains and oilseeds, though analysts expect a recovery after Lunar New Year.

## Read by commodity

- OCEANFRT: bearish ▼

## Sources

- freightwaves.com: https://www.freightwaves.com/news/rough-start-to-2023-for-dry-bulk-tanker-gas-container-shipping

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