Baltic Dry Index declined the third consecutive week


During last week, Baltic Dry Index lost 1 point or 0.07% reaching 1481 points. Baltic freight index declined the third consecutive week, despite the recovery in demand for large-capacity shipments by Capesize-type vessels. Rest of BDI components showed a downward trend, reports UkrAgroConsult.

Despite the decrease in Panamax index last week, market participants noted some strengthening of demand for the supply of products by this tonnage type.

The situation differed from region to region, but in the southern Atlantic, ship owners managed to increase transportation rates gradually, which was also facilitated by the limited number of free tonnage in the region.

Most likely Baltic Dry Index will be able to resume its growth, if the current trends in the large bulk carriers sectors persist.



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