Baltic Dry increased to monthly maximum

01.09.2016

Last week dry bulk market strengthened – the dry bulk shipping index Baltic Dry increased to a maximum for more than a month and reached 718 points. During the week the freight index grew by 5.3%.

Increase in trading activity in the sector of large Capesize-type vessels for coal transportation to China was the main driver of Dry Bulk Index strengthening. Coal imports to China reached 9.31 MMT in July 2016, which was 30.7% more than in July 2015, and 23.5% more than in June 2016. In general, July imports reached the 19-month high (since December 2014.). Increased idle time while waiting for coal loading from Australia became an additional factor.

 

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