# Ocean freight rates under pressure - Grainews

> Ocean freight rates have fallen over the past month to near 2022 lows, with the Baltic Dry Index at 1,149 on November 22 after a ninth straight decline. Container rates have also dropped sharply as COVID cases and restrictions in China weigh on demand.

- Date: 2022-11-23 · published 2022-11-23T12:00:00.000Z
- Category: logistics · region Global · magnitude low
- Page: https://feedsoft.ai/events/38880-ocean-freight-rates-under-pressure-grainews
- Commodities: [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md)

## Why it matters

Lower ocean freight reduces landed costs for grain and oilseed exports, especially for origins like Canada that face freight disadvantages, while softer Chinese demand weighs on bulk trade prospects.

## Read by commodity

- OCEANFRT: bearish ▼

## Sources

- grainews.ca: https://www.grainews.ca/daily/ocean-freight-rates-under-pressure/

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