Baltic Dry Index grew 7% supported by Panamax Index

02.03.2018

Last week Baltic freight index gained 78 points or 7.16%, reaching 1167 points. Baltic Dry Index grew despite the celebration of Chinese New Year in China and other East Asian countries, and the related decline in international trade activity, reports UkrAgroConsult.

The Panamax Index became the main BDI growth driver last week and strengthened by 187 points. In the first quarter, Brazilian soybean exports intensify, but this only slightly offsets the decline in soybean exports in the first quarter from the USA. It is expected that in 2018, 161 MMT of soybean will be shipped.

 

UkrAgroConsult

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