# The economic situation in China will affect the dry cargo market in 2023 — Logistics News

> An article on the dry cargo market says the Baltic Dry Index rose about 8% to 1,723 on December 21, 2022, its highest since October 25, led by a sharp Capesize rally. Panamax earnings fell while Capesize gained on new cargo orders from Brazil, West Africa and the North Atlantic, with sentiment supported by China's easing of quarantine measures.

- Date: 2022-12-28 · published 2022-12-28T12:00:00.000Z
- Category: logistics · region Global · magnitude low
- Page: https://feedsoft.ai/events/38405-the-economic-situation-in-china-will-affect-the-dry-cargo-market-in-2023
- Commodities: [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md)

## Why it matters

Firmer dry-bulk freight raises the cost of shipping grain from South America and the Black Sea, which can widen import-export spreads and support origin basis. Outlook hinges on Chinese demand recovery, which would tighten freight further.

## Read by commodity

- OCEANFRT: bullish ▲

## Sources

- gmk.center: https://gmk.center/en/news/the-dry-cargo-market-in-2023-will-be-influenced-by-the-situation-in-china/

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