# Dry bulk quarterly: High commodity prices, volatile bunkers arrest freight demand

> S&P Global's quarterly dry bulk outlook says Q1 Capesize earnings averaged far below Supramax and Panamax rates, and traders are hesitant to commit to Q2 freight due to volatile bunker prices, high commodity prices and geopolitical disruption. Freight spreads between ship sizes may reverse this quarter.

- Date: 2022-04-07 · published 2022-04-07T12:00:00.000Z
- Category: logistics · region Global · magnitude low
- Page: https://feedsoft.ai/events/42045-dry-bulk-quarterly-high-commodity-prices-volatile-bunkers-arrest-freight-demand
- Commodities: [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Volatile fuel costs and reduced commodity buying weigh on dry bulk freight demand, which feeds into ocean grain and oilseed shipping costs for feed importers.

## Read by commodity

- WTI: neutral
- OCEANFRT: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2017-09-01 | [Inter Continent Trading: Tankers: Persian Gulf vs Red Sea freight premium disappears as Harvey disrupts trade](https://feedsoft.ai/events/68843-inter-continent-trading-tankers-persian-gulf-vs-red-sea-freight-premium.md) | +0.4% | +9.4% |
| WTI | 2021-03-26 | [Suez Canal crisis: Here are the cargoes in the crossfire - FreightWaves](https://feedsoft.ai/events/48030-suez-canal-crisis-here-are-the-cargoes-in-the-crossfire-freightwaves.md) | +5.0% | +6.3% |
| WTI | 2026-04-22 | [Tankers undercut grain ships in Panama Canal: queues have increased significantly — EADaily, April 22nd, 2026 — Politics, Russia](https://feedsoft.ai/events/16869-tankers-undercut-grain-ships-in-panama-canal-queues-have-increased.md) | +9.8% | +18.8% |
| WTI | 2021-09-30 | [China's farmers face more pain as power crunch drives up feed costs \| Financial Post](https://feedsoft.ai/events/45065-china-s-farmers-face-more-pain-as-power-crunch-drives-up-feed-costs-financial.md) | +3.5% | +10.2% |
| WTI | 2021-02-19 | [Traders rush to supply fuel to the U.S. as Texas freeze bites](https://feedsoft.ai/events/48823-traders-rush-to-supply-fuel-to-the-u-s-as-texas-freeze-bites.md) | +5.0% | -0.8% |

## Sources

- spglobal.com: https://www.spglobal.com/commodity-insights/en/news-research/latest-news/shipping/040722-dry-bulk-quarterly-high-commodity-prices-volatile-bunkers-arrest-freight-demand

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