# Baltic Index Slides to 5-Month Low as Capesize, Panamax Rates Retreat

> The Baltic Dry Index fell 6.1% to 2,591 on November 16, its lowest since early June, as capesize and panamax rates retreated. Capesize earnings fell to about $28,059 per day and panamax to $24,072 amid weaker Chinese steel-related demand and Vale production cuts.

- Date: 2021-11-16 · published 2021-11-16T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/44241-baltic-index-slides-to-5-month-low-as-capesize-panamax-rates-retreat
- Commodities: [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md)

## Why it matters

Lower dry bulk rates reduce ocean grain freight costs, which can ease landed prices for imported feed grains and meals. The decline reflects softer Chinese commodity demand, a bearish signal for bulk shipping.

## Read by commodity

- OCEANFRT: bearish ▼

## Sources

- gcaptain.com: https://gcaptain.com/baltic-index-slides-to-5-month-low-as-capesize-panamax-rates-retreat/

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