All Baltic Dry Index components weakened significantly last week

24.11.2017

Last week, Baltic Dry Index lost 120 points or 8.82% reaching 1361 points. Baltic Freight Index continued to fall for the fourth consecutive week, all BDI components weakened significantly, reports UkrAgroConsult.

The demand for Capesize fleet remained minimal and in conditions of shortage of requests for transportation, the corresponding quotations declined. Brokers expect even greater reduction in freight rates, as there are no prerequisites for increasing ore imports to China yet.

Despite the increased activity of Panamax fleet in the Atlantic and the emergence of a large number of requests for transportation of agricultural commodities, Panamax Index lost 170 points last week. Meanwhile, in the near future, trading activity in the grain segment may become a positive driver for the Baltic freight index.

 

UkrAgroConsult

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