Freight index decreased to monthly minimum


Last week dry bulk market kept decreasing resulting in reduction of the dry bulk shipping index Baltic Dry to monthly minimum (656 points). During the week Baltic Dry lost 8.4%.

Reduction of demand for transportation in all sectors of dry bulk market, except for Handy, provoked the decline of shipping index.

Amid sharp reduction of freight rates for large sea tonnage, many owners of Capesize vessels take decision in favor of moorage. Due to low demand for shipping time-charter rates on the route Australia-China dropped to USD 3500 per day against USD 7300 per day of operational expenditures.





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