Baltic Dry Index gained significantly last week

18th june 2018

Last week, Baltic freight index gained 305 points or 27.98% to 1395 points. An unprecedented growth was triggered by the significant activity in the large-tonnage transportation sector, which strengthened by more than 58% points over the week.

Capesize fleet transportation market in the Atlantic strengthened significantly amid an increase in supplies of metallurgical raw materials for shipments from Brazil to China, reports UkrAgroConsult.

Panamax index strengthened by 184 points, which was almost 16% gain. The delivery cost of agricultural commodities by Panamax vessels from Mexican coast to China decreased by USD 1/MT.

A week earlier, Baltic freight index lost 19 points with Capesize Index remained the main bearish. Panamax Index fell by almost 3.5% points. Exports of agricultural commodities from Brazil were delayed due to the drivers’ strike.

Source: UKR AGROCONSULT