A recently published trading economics news source deals with the shipping industry market and demand.
Baltic Exchange Dry Index
Baltic Exchange Dry Index is expected to trade at 2045.56 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 2379.51 in 12 months time.
The Baltic Exchange’s main sea freight index, which measures the cost of shipping goods worldwide, advanced for a 4th session on Wednesday, rising about 2.4% to a more than 14-month high of 2,105 points. The capesize index, which tracks vessels typically transporting 150,000-tonne cargoes such as iron ore and coal, was also up for a fourth day, adding 2.5% to a nearly 17-month peak; and the panamax index, which tracks ships that usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, increased for a second successive session, rising 3.5% to 1,619 points. Among smaller vessels, the supramax index extended its streak of seven sessions of gains, adding 8 points at 1,285 points.
“A tight North Atlantic market, along with increased coal shipments to Europe, have bolstered rates(in the capesize sector), despite weaker iron ore exports from Brazil and Western Australia. In the Panamax sector, a surge in cargo demand occurred in the Pacific market.”, Intermodal shipbroking said.
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Source: Trading Economics
