Issuing agency: China Association of the National Shipbuilding Industry
Column: Statistics
source: https://www.cansi.org.cn/cms/document/16622.html
Since the beginning of this year, the Baltic Dry Index (BDI) has shown a sharp upward trend as a whole. Recently, the freight index of various types of bulk carriers has risen rapidly, and shipowners' willingness to invest in bulk carriers has significantly increased.
Last week, BDI rose for four consecutive trading days, reporting 3,566 points on August 13, up 159% from the beginning of the year and 126% from the same period last year, the highest level since mid-2010. The Capesize Bulk Carrier Freight Index rose 158 points to 4,766 points, the highest level in the past four months, and the average daily profit increased by US$1,309 to US$39,526. The Panamax Bulk Carrier Freight Index rose 16 points to 3,566 points, the highest level since June 21, and the average daily profit increased by US$143 to US$32,092. The Supramax Bulk Carrier Freight Index rose 19 points to 3,098 points, continuing to set a new record high.
Experts believe that the recent rise in BDI and freight index is due to port congestion caused by the epidemic on the one hand and a sharp drop in ship turnover efficiency. Major bulk carrier shipping countries such as China and Australia have recently increased the detection of foreign ships, resulting in serious port congestion; the resurgence of the epidemic in Europe and the United States and the shortage of port dock workers have affected the overall loading and unloading efficiency of ports. On the other hand, the economies of various countries have gradually recovered since the second quarter of this year, and global demand for iron ore, coal, steel, etc. has increased significantly. Due to the uneven distribution of global resources, there is a large demand for transporting coal from Australia, Brazil, Indonesia to East Asia, Southeast Asia, and Europe. After countries such as China produce steel, bulk carriers are needed to transport it to other countries.