# Ocean freight rate index moving higher - Grainews

> The Baltic Dry Index rose for 12 straight sessions to 973 points on June 15, up from a four-year low of 393 in mid-May. The Panamax index, which tracks grain and coal vessels, was at 884 points, roughly double its lows of a month earlier. Ocean freight rates are rising as economies show signs of recovery from the COVID-19 slowdown.

- Date: 2020-06-15 · published 2020-06-15T12:00:00.000Z
- Category: logistics · region Global · magnitude low
- Page: https://feedsoft.ai/events/52537-ocean-freight-rate-index-moving-higher-grainews
- Commodities: [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md)

## Why it matters

Higher panamax and ocean freight rates raise landed costs for grain exports, which can make Canadian origin less competitive into some markets.

## Read by commodity

- OCEANFRT: bullish ▲

## Sources

- grainews.ca: https://www.grainews.ca/daily/ocean-freight-rate-index-moving-higher/

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