# EastGate report: Mid-year dry bulk contemplations | Dry Bulk

> EastGate's mid-year dry bulk report says Capesize earnings passed $30,000 per day before settling near $27,000, which it calls a correction within a positive trend. It attributes the strength to Chinese iron ore demand after China's COVID-era shutdown and to record Australian ore exports in June.

- Date: 2020-07-14 · published 2020-07-14T12:00:00.000Z
- Category: logistics · region Global · magnitude low
- Page: https://feedsoft.ai/events/52319-eastgate-report-mid-year-dry-bulk-contemplations-dry-bulk
- Commodities: [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md)

## Why it matters

Capesize strength is driven mainly by iron ore rather than grain, so the direct effect on feed ingredient freight is limited. Broader dry bulk tightness can still lift the ocean freight rates that feed buyers pay.

## Read by commodity

- OCEANFRT: bullish ▲

## Sources

- drybulkmagazine.com: https://www.drybulkmagazine.com/dry-bulk/14072020/eastgate-report-mid-year-dry-bulk-contemplations/

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