Baltic Dry index decreased due to a reduction of trading activity


Last week, Baltic freight index lost 17 points or 0.72% reaching 1089 points. Traditionally, during the celebration of Chinese New Year, the shipping market experienced a reduction of trading activity.

The activity in large-tonnage sector was low after the Capesize index growth the previous week. Capesize freight market in the Atlantic was inactive, which was triggered by the reduction of demand for deliveries of Brazilian metallurgical raw materials to China. The situation will persist in the coming weeks due to the long holidays in China and other countries of East Asia.

The Panamax Index decreased 12 points. The Supramax and Handysize segments also closed the reporting period down. The reduction in business activity in the Asian region will continue to affect the sea bulk carrier market, and Baltic Dry Index will return to growth only after the end of Chinese New Year celebration, reports UkrAgroConsult.




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