# Dry bulk freight market ends February lull

> The Baltic Dry Index climbed to a three-week high of 1,167 on 22 February as Chinese traders returned after Lunar New Year. Capesize paper rates rose sharply, with the 5-time-charter average reaching about $13,401 before easing, while physical iron ore demand from Australia picked up.

- Date: 2018-02-23 · published 2018-02-23T12:00:00.000Z
- Category: logistics · region Global · magnitude low
- Page: https://feedsoft.ai/events/66677-dry-bulk-freight-market-ends-february-lull
- Commodities: [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md)

## Why it matters

Higher dry bulk freight raises the landed cost of grain and meal cargoes moving on Panamax and Supramax ships, which can widen basis spreads for feed buyers importing from South America and Australia.

## Read by commodity

- OCEANFRT: bullish ▲

## Sources

- seatrade-maritime.com: https://www.seatrade-maritime.com/dry-bulk/dry-bulk-freight-market-ends-february-lull

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