# Dry Bulk: Vessel Demand Wanes

> The Baltic Dry Index fell for a sixth straight session on October 13, dropping about 3% to 1,818 as rates declined across capesize, panamax and supramax vessels. Iron ore futures hit a three-week low and spot prices reached an 11-month low amid weak Chinese demand. Fearnleys noted some grain trips paying premiums over mineral trades, but activity was limited.

- Date: 2022-10-13 · published 2022-10-13T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/39312-dry-bulk-vessel-demand-wanes
- Commodities: [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md)

## Why it matters

Falling dry bulk rates and weak Chinese steel-related demand point to lower ocean freight costs for grain, with little direct effect on feed ingredient prices.

## Read by commodity

- OCEANFRT: bearish ▼

## Sources

- marinelink.com: https://www.marinelink.com/news/dry-bulk-vessel-demand-wanes-500182

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