Last week dry bulk shipping index Baltic Dry showed reduction for the first time over more than a month. But summarizing the results of the week the Index increased by 12.2% to the maximum of 670 points over the last 5 months.
Change in the indicator direction happened due to reduction in the sector of large Capesize type vessels, specializing in transportation of ore. Brokers say that despite the recent strengthening of the dry bulk market, the decrease shows that the transportation supply and demand balance remains sensitive. And it means that development of world economy is also unsustainable.
More information on freight market is available to subscribers for weekly market report “Black Sea Grain & Oil” by UkrAgroConsult. (blackseagrain.net)