Baltic Dry Index got substantial support from the Panamax sector due to its high activity

01.02.2018

Last week, after a long period of falling, Baltic Dry Index was able to get substantial support from the Panamax and Capesize sectors, which allowed the freight index to finish last week on a positive note, reports UkrAgroConsult.

The return of Capesize index to upward dynamics supported the Baltic Dry Index recovery, which is at its low since August 2017. The Pacific large-tonnage market strengthened due to an increase in iron ore imports to China.

The Panamax sector, which specializes in coal and grain transportation, appeared to be the main BDI bullish driver last week. According to brokers, transportation market in the South Atlantic continued to grow. Grain supply, as well as commercial activity, were high.

 

UkrAgroConsult

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