# Dry Bulk: Panamax Rates Hit Lowest In Two Years

> The Baltic Exchange's main sea freight index fell 3.8% to 1,096 on January 10, 2023, as panamax rates dropped to their lowest level in two years. Capesize and supramax rates also declined, while China's COVID reopening optimism lifted iron ore futures.

- Date: 2023-01-10 · published 2023-01-10T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/37994-dry-bulk-panamax-rates-hit-lowest-in-two-years
- Commodities: [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md)

## Why it matters

Falling panamax rates, which carry grain cargoes, lower ocean transport costs for feed grains and meal, but expected Chinese demand recovery could later support freight.

## Read by commodity

- OCEANFRT: bearish ▼

## Sources

- marinelink.com: https://www.marinelink.com/news/dry-bulk-panamax-rates-hit-lowest-two-502061

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