Baltic freight index lost 0.66% last week

22.12.2017

During the reporting week, Baltic freight index lost 11 points or 0.66%, reaching 1668 points. The reduction in activity in the sector of large-capacity transportation provoked the end of BDI rally, which gained points over the past three weeks, reports UkrAgroConsult.

Capesize Index decreased 211 points or 5.09%, which was the main bearish factor for the Baltic Freight Index. China's appetite for imports of iron ore and coal was satisfied due to available stocks of raw materials.

Panamax Index continued to gain ground, strengthening by 9.59% last week. Analysts note the increased demand for transportation of raw materials in the Atlantic direction. In South America the demand for vessels to deliver grain allows ship owners to increase freight rates.

 

UkrAgroConsult

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