Benefiting from the increase in the freight rate of Capesize vessels, the Baltic Composite Index (BDI) rose 98 points, or 3.99%, to 2552 points last Friday (19th). However, due to the decline in the first three trading days, the weekly line still closed at 9.8%. Panama’s extreme freight rate index (BPI) has been sluggish and has fallen continuously, writing its biggest weekly decline since February 2019, reaching 22%.
Shipbroker Intermodal pointed out in the latest weekly report that the dry bulk market fell into a downturn again last week and saw that the value of ship assets is gradually losing support. During the replenishment frenzy in September and early October, the dry bulk freight price hit a new high for more than 13 years. As China’s port congestion eased, the Pacific market was flooded with a large amount of capacity, and the market adjusted. FFA pricing will weaken further in the coming months, and the buying interest of second-hand dry bulk carriers will drop, and the upward trend since the beginning of this year has come to an abrupt end.
Panama’s extreme freight index (BPI) fell for the eighth consecutive trading day, falling 54 points, or 2.31% to 2282 points, remaining at a 7-month low, a weekly decline of 22.12%, the largest weekly decline in 33 months; Average daily rent decreased by 490 DollarTo 20535 Dollar。
The Ultra Lightweight Limit Freight Index (BSI) fell 11 points, or 0.49%, to 2237 points, down 0.71% for the week.