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The Baltic Dry Bulk Freight Index Increased By 6.26% From The Previous Month

Time: 2020-08-21 Category: Industry Information Tag: Baltic Dry Bulk Freight Index
Summary: Last week, driven by the increasing demand for Panama and Super Handysize ships, the Baltic Dry Bulk Freight Index rose for several days. Over the weekend (August 14), the index reached 1,595 points, the level since July 20 (1678 points), a week-on-week increase of 6.26%.
Last week, driven by the increasing demand for Panama and Super Handysize ships, the Baltic Dry Bulk Freight Index rose for several days. Over the weekend (August 14), the index reached 1,595 points, the level since July 20 (1678 points), a week-on-week increase of 6.26%.

According to data from China Coal Resources Network, the Capesize shipping rate index dropped first and then rose last week, gradually stabilizing, ending at 2402 points at the weekend, a slight increase of 0.04% on a week-on-week basis; the Panamax shipping rate index rose all the way, reaching At 1824 points, an increase of 16.7% on a week-on-week basis; The Handysize Freight Index also rose day after day, at 927 points at the weekend, an increase of 8.24% on a week-on-week basis.

On August 17, as the demand for ultra-handy-size ships offset the decline in demand for Capesize and Panamax ships, the Baltic Trade Shipping Exchange’s dry bulk freight index rose for 14 consecutive trading days, reaching the level since July 20. .

On the same day, the Baltic Sea's overall dry bulk freight index rose 3 points, or 0.2%, to 1,598 points.

The Handysize Freight Index rose 16 points, or 1.7%, to 943 points, the eighth consecutive trading day.

The Capesize freight index fell 2 points, or 0.1%, to 2,400 points. The carrying capacity of this type of ship is usually 170,000 to 180,000 tons, and the cargo is iron ore and coal.

The Panamax freight index fell 5 points, or 0.3%, to 1819 points. The carrying capacity of this type of ship is usually 60,000 to 70,000 tons, and the cargo is usually coal or grain.