Baltic Dry Index lost 5% last week

10.11.2017

Last week, Baltic Dry Index lost 73 points or 4.69% and went down to 1482 points. Low demand for vessels delivering ore and coal appeared to be the main BDI reduction driver. Capesize Index decreased 3.87% due to fluctuations in the market of large-tonnage traffic. Based on information from market participants, more than a hundred of ships with coal gathered near Chinese ports due to the restrictive measures imposed by Chinese government. Delay in thermal coal supply influences the amount of free fleet adversely, reports UkrAgroConsult.

Low number of shipments by Panamax fleet, which remained in the Atlantic, affected Panamax Index last week. New requests for the supply of Brazilian and Argentinean grain in November were few; ship owners suffered a shortage of cargo base, which triggered the reduction in freight rates.

 

UkrAgroConsult

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