# Dry bulk shipping rates slashed in half - FreightWaves

> Capesize bulker spot rates fell to $17,300 per day on July 24, about half the July 6 peak of $33,800, and are down 39% year-on-year. Panamax rates, the vessel size used for bulk US farm exports, fell to $11,400 per day, 40% below a year earlier.

- Date: 2020-07-24 · published 2020-07-24T12:00:00.000Z
- Category: logistics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/52318-dry-bulk-shipping-rates-slashed-in-half-freightwaves
- Commodities: [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md)

## Why it matters

Panamax freight is a direct component of the landed cost of US grain and meal exports, so lower rates reduce the cost of shipping feed ingredients overseas and weigh on ocean freight prices.

## Read by commodity

- OCEANFRT: bearish ▼

## Sources

- freightwaves.com: https://www.freightwaves.com/news/dry-bulk-shipping-rates-slashed-in-half

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