# Baltic Index Touches 7-Wk Low

> The Baltic Exchange main sea freight index fell to a seven-week low of 1,579 points on August 31, 2018, its seventh straight session of declines. Weaker demand for capesize and panamax vessels drove the drop, and the index fell about 7% over the week. Capesize earnings fell to about $20,671 per day.

- Date: 2018-08-31 · published 2018-08-31T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/63731-baltic-index-touches-7-wk-low
- Commodities: [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md)

## Why it matters

Lower dry bulk rates signal softer ocean freight demand, which can reduce the cost of shipping grain and meal to importers. The weakness suggests freight is not adding upward pressure on feed ingredient prices.

## Read by commodity

- OCEANFRT: bearish ▼

## Sources

- marinelink.com: https://www.marinelink.com/news/baltic-index-touches-wk-low-441108

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