# Virus fears weigh on global shipping sector - Grainews

> The Baltic Dry Index fell for 13 straight sessions to 453 points, its lowest level in four years. The capesize index went negative as coronavirus lockdowns in China cut demand for iron ore, coal and steel.

- Date: 2020-02-04 · published 2020-02-04T12:00:00.000Z
- Category: logistics · region China · magnitude medium
- Page: https://feedsoft.ai/events/54522-virus-fears-weigh-on-global-shipping-sector-grainews
- Commodities: [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md)

## Why it matters

Weak Chinese demand is pushing dry bulk freight rates lower, which reduces ocean freight costs for grain and oilseed cargoes. A falling index also signals softer global trade activity.

## Read by commodity

- OCEANFRT: bearish ▼

## Sources

- grainews.ca: https://www.grainews.ca/daily/virus-fears-weigh-on-global-shipping-sector/

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