# Freight Update: Freight Market Soars on Chinese Demand | CZ app

> The Baltic Dry Index closed June 30 at 1,799 points, up 350% over the prior 30 days, driven mainly by Capesize ore shipments to China. Panamax time charter rates rose 67% over the same period, and port congestion is tightening vessel supply.

- Date: 2020-07-03 · published 2020-07-03T12:00:00.000Z
- Category: logistics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/52321-freight-update-freight-market-soars-on-chinese-demand-cz-app
- Commodities: [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md)

## Why it matters

Rising Panamax and Supramax rates raise the cost of moving US and South American grain and meal to Asian buyers, supporting higher delivered feed ingredient prices.

## Read by commodity

- OCEANFRT: bullish ▲

## Sources

- czapp.com: https://www.czapp.com/analyst-insights/freight-update-freight-market-soars-on-chinese-demand/

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