# Nascent dry bulk shipping recovery loses momentum

> Spot dry bulk freight rates peaked in early October and have since weakened, with MSI expecting seasonal declines until the New Year. China's October coal deliveries fell 27% from September, while US soybean shipments to China are near their seasonal peak.

- Date: 2020-11-23 · published 2020-11-23T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/50355-nascent-dry-bulk-shipping-recovery-loses-momentum
- Commodities: [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Expected seasonal decline in panamax and handymax demand for US soybean cargoes should lower ocean freight costs, though strong Phase One soybean buying partly offsets the softening.

## Read by commodity

- SOY: neutral
- OCEANFRT: bearish ▼

## Sources

- seatrade-maritime.com: https://www.seatrade-maritime.com/dry-bulk/nascent-dry-bulk-shipping-recovery-loses-momentum

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