# Shipping freight market defies ongoing trade war - Rediff.com Business

> The Baltic Dry Index is up almost 50% since July and recently touched a five-year high despite the US-China trade war. Demand for dry bulk commodities such as iron ore, coal and grain has driven the rally, with longer routes from tariffs lifting ton-mile demand.

- Date: 2019-09-09 · published 2019-09-09T12:00:00.000Z
- Category: logistics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/57261-shipping-freight-market-defies-ongoing-trade-war-rediff-com-business
- Commodities: [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Higher dry bulk freight raises the landed cost of grains and meals moving on longer routes, such as South American and Black Sea cargoes into Asia, which supports FOB and CIF prices for feed buyers.

## Read by commodity

- SOY: neutral
- OCEANFRT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2019-08-25 | [Baltic Exchange Shipping Insights - The Business Times](https://feedsoft.ai/events/57776-baltic-exchange-shipping-insights-the-business-times.md) | +1.6% | +5.8% |
| SOY | 2024-01-31 | [Diverted shipping routes are changing trade flows - Brownfield Ag News](https://feedsoft.ai/events/32019-diverted-shipping-routes-are-changing-trade-flows-brownfield-ag-news.md) | -1.6% | -7.0% |
| SOY | 2024-08-06 | [ECSA Freight Watch: Market weakens as fundamentals challenge Sep deliveries](https://feedsoft.ai/events/17012-ecsa-freight-watch-market-weakens-as-fundamentals-challenge-sep-deliveries.md) | -3.1% | -4.5% |
| SOY | 2023-10-09 | [Water isn’t rising on Mississippi, but barge rates have steadied for now - FreightWaves](https://feedsoft.ai/events/16598-water-isn-t-rising-on-mississippi-but-barge-rates-have-steadied-for-now.md) | +1.1% | +4.9% |
| SOY | 2020-10-19 | [Grain trade has supported Panamax freight rates but coal risk still remains](https://feedsoft.ai/events/50534-grain-trade-has-supported-panamax-freight-rates-but-coal-risk-still-remains.md) | +3.2% | +8.7% |

## Sources

- rediff.com: https://www.rediff.com/business/report/shipping-freight-market-defies-ongoing-trade-war/20190909.htm

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