Baltic Dry Index went down last week again after recent active growth

03.11.2017

Last week, Baltic Dry Index lost 30 points or 1.89%, and went down to 1555 points. After an active growth during more than two weeks, Baltic Freight Index turned downwards, reports UkrAgroConsult.

The negative dynamics of Panamax sector, which already lasts for five consecutive sessions, appeared to be the catalyst for Baltic Dry Index reduction. The decrease in Panamax Index by almost 6% during the reporting week is explained by low trading activity in the transportation market by vessels of this type. Brokers do not see a noticeable increase in soybean shipments for exports from Brazil, which reduces the demand for bulk carriers.

Capesize Index was pressured by the fluctuating demand for iron ore transportation to China, which did not add optimism to the BDI forecast for the near future.

 

UkrAgroConsult

Readers choice: TOP-5 articles of the month by UkrAgroConsult