# Dry bulk flounders as coronavirus threatens Brazilian exports - FreightWaves

> Capesize dry bulk rates fell to $3,796 per day, with the Baltic 5TC index showing the tentative April bounce has faded. Shipping stocks fell after Star Bulk and Golden Ocean reported quarterly results, and analysts described spot rates as unsustainable.

- Date: 2020-05-27 · published 2020-05-27T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/53343-dry-bulk-flounders-as-coronavirus-threatens-brazilian-exports-freightwaves
- Commodities: [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md)

## Why it matters

Falling capesize rates reflect weak iron ore and coal demand linked to COVID-19, which lowers ocean freight costs for bulk grains, though the effect on feed ingredient prices is limited.

## Read by commodity

- OCEANFRT: bearish ▼

## Sources

- freightwaves.com: https://www.freightwaves.com/news/dry-bulk-flounders-as-coronavirus-threatens-brazilian-exports

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