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Baltic Dry Freight Index closed lower due to weaker demand for Capesize vessels

Release time：Jun 26, 2019 From：min

Foreign news on May 15th, the Baltic Sea Shipping Exchange's dry bulk freight index closed down on Wednesday, ending the five-day continuous increase, due to the decline in demand for sea-going vessels.

The overall dry bulk freight index fell 11 points, or 1.1%, to 1,032.

The Capesize freight index fell by 45 points, or 3%, to 1,417 points.

The daily average profit of Capesize vessels fell by US$376 to US$11,758. This type of ship usually carries 17-180,000 tons of cargo, and the cargo is iron ore and coal.

The Panamax freight rate index rose 14 points or 1.1% to 1,243 points, the highest level since January 8.

The daily average profit of Panamax vessels rose by US$116 to US$9,953. This type of ship usually carries between 60,000 and 70,000 tons of cargo, and the cargo is usually coal or grain.

The Super Handysize freight index rose slightly from 1 point to 784 points.

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