# Ocean freight rates pointed down, but well off year-ago lows - Grainews

> Ocean freight rates are trending lower but remain well above the record lows of a year earlier, with the Baltic Dry Index at 702 points on 10 February. BIMCO expects oversupply to keep freight rates weak for January to April, though China's infrastructure spending may support rates later.

- Date: 2017-02-10 · published 2017-02-10T12:00:00.000Z
- Category: market · region Canada · magnitude low
- Page: https://feedsoft.ai/events/72704-ocean-freight-rates-pointed-down-but-well-off-year-ago-lows-grainews
- Commodities: [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md)

## Why it matters

Lower ocean freight narrows the freight disadvantage for Canadian grain exporters against Australia and the Black Sea, which can improve their competitiveness. The shift is modest and mainly affects export basis and delivered prices.

## Read by commodity

- OCEANFRT: bearish ▼

## Sources

- grainews.ca: https://www.grainews.ca/daily/ocean-freight-rates-pointed-down-but-well-off-year-ago-lows/

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