Dry cargo freight index, leaving the Baltic Sea.

In which, the capesize freight index increased 80 points (2.9%) to 1,807, ending 8 consecutive sessions of decline. Thus, the daily rental price of a capesize – 150,000 tons of cargo (usually carrying iron ore and coal) has increased by 670 USD to 23,283 USD.

The capersizer freight rates increased due to the increase in iron ore prices. Accordingly, iron ore futures on the Singapore Exchange increased for the past 3 consecutive sessions thanks to strong buying activity stemming from optimism about the prospect of steel material demand in the short term after showing signs of saw the world’s largest steel producer – China – restore steel production capacity this month. China’s iron ore prices have also increased for the past 4 weeks, reaching the highest level in 7 weeks.

Contrary to capersizer, panamax freight rates on December 20 decreased by 88 points, or 3.6%, to 2,356, the lowest level in a month.

Average daily rates for panamaxes, which carry 60,000 to 70,000 tons, usually coal or grain, also fell by $790 to $21,204. The supramax freight index fell 33 points to 2,436, the lowest level in more than two weeks.

The demand for chartering vessels in the small tonnage segment is decreasing.

The trend of decreasing water freight rates has appeared for many days now and is showing signs of accelerating. Last week (ending on December 17), the dry freight index, leaving the Baltic Sea, fell the most in nearly 3 years, with a decrease of up to 27.3%, of which the freight index alone capersizer ship fees lost 119 points, or 4.8%, officially hitting the lowest level since April last year.

Reference: Reuters

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