# Bulk carriers shrug off Shanghai - Splash247

> Bulk carrier markets have held up despite Shanghai lockdowns, with Capesize rates tripling since April 19 to a 5TC average of $34,531 by May 18. Panamax time charter averages remained steady and profitable, and grain export volumes this year already exceed 200 million tonnes. Iron ore freight from Australia and Brazil to China rose sharply.

- Date: 2022-05-24 · published 2022-05-24T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/41601-bulk-carriers-shrug-off-shanghai-splash247
- Commodities: [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md)

## Why it matters

Sustained grain export volumes and firm panamax rates keep ocean freight costs elevated for feed ingredient imports into Asia and other importing regions.

## Read by commodity

- OCEANFRT: bullish ▲

## Sources

- splash247.com: https://splash247.com/bulk-carriers-shrug-off-shanghai/

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