Sloshing of liquefied bulk granular cargoes weakens the stability of cargo carriers when at sea. Using the horizontal rectangle baffle is a promising way to restrain its sloshing motion. But the location height and optimal baffle area rate to achieve a better anti-sloshing effect should be studied first. The discrete element method was adopted to establish the simulation model, and the direct shear test was used for verification. Through the static tilt tests, the definite relationship between the effects of moisture content on cargo motion and particle friction coefficients was acquired. Then, liquefied cargo motion in a cargo hold without baffles and with one and two pairs of horizontal baffles was simulated. Based on variations in the cargo gravity center offset and the sloshing-induced force on the cargo hold, the anti-sloshing effect of different settings of the baffles was compared. Results show that the baffles have the ability to restrain cargo sloshing, and this is important for sea transportation safety. The anti-sloshing effect is better when the baffle plane is right on the cargo top surface compared to the other location heights. Further, there is an optimal length–width combination, e.g., a single baffle plane with a length of 0.26 L and a width of 0.46 B, at which a better anti-sloshing effect could be achieved with the smallest baffle area rate. This study could be useful for the practical application of horizontal baffles for bulk granular cargo carriers.