Baltic Dry Index prices continue to rise, thanks to a smaller ship fares to go up
Baltic Exchange Dry Freight Index rose Yinbanama smaller ship freight to climb.
Baltic Dry Index rose 12 points or 1.2% to 1036 points The index measures the cost of transport of iron ore, cement, grain, coal and fertilizer, and other resources.
The Baltic's panamax index rose 40 points or 4.7% to 886 points, the average daily profit growth 317-7077 U.S. dollars. Ship of the type usually carrying amount to 6-7 million tons of main cargo is coal and grain.
Supramax vessels and average daily profit rose 100-7046 U.S. dollars the Handymax date profit increase 24-5992 U.S. dollars.
The Baltic's capesize index fell 0.13 percent, or 3 points to 2347 points.
"Capesize average daily profit fell 1.1% due to the the Atlantic routes profitable growth is insufficient to cover the downward pressure of the Pacific routes," said Herman Hildan, RS Platou Markets analyst.
The decrease in average daily profit of of 27-16411 U.S. dollars. Capesize the capesize usually carrying capacity of 15 million tonnes of cargo, iron ore and coal.
Iron ore accounted for about one-third of the Capesize traffic broker said its price trend is still an important factor affecting the transportation of dry bulk.
Transport vessels supply exceeds the demand for commodities is expected some time in the next few months will limit the increase in dry bulk shipping rates.
Baltic Dry overall index has fallen by about 40% this year.