News summary
The BDI index fell 2 per cent this weekterminator2pinballmachine.6% to 1797 points, mainly dragged down by capesize ships. Iron ore traffic increased, but long-route traffic fell. Global coal traffic volume fluctuates, while grain traffic volume declines. The total number of global dry bulk carriers increased by 2.9%, and the growth rate of convenience delivery increased. The market outlook is volatile, and we need to be vigilant against geopolitical and other risk factors.
Newsletter text
[The BDI index continues to decline this week, affected by the decline in capesize ship hire rates] On May 24, 2024, the BDI index recorded 1797 points, a decrease of 2.6% month-on-month from last week. The BCI index closed at 2613 points, down 2.3% month-on-monthterminator2pinballmachine; The BSI index reached 1326 points, down 5.6% month-on-month; the BPI index was relatively stable, remaining at 1824 points, basically unchanged compared with last week.
[Rents of various bulk carriers generally fell] The daily revenue of capesize 5TC decreased by 5.8% to US$21,800/day; the daily revenue of Panamasize 5T/C decreased by 4.7% to US$16,400/day; and the daily revenue of the 10T/C flexible ship decreased by 5.3% to US$15,100/day.
[Global demand for bulk carriers shows a divergence trend] Global iron ore traffic volume showed an upward trend this week. Although traffic volume on long routes such as Brazil has declined, VLOC speeds have continued to decline. The volume of bauxite ore remains high, while the volume of coal and grain shows a volatile and downward trend respectively.
[Global supply of dry bulk carriers maintains growth] As of early May 2024, the total deadweight tons of global dry bulk carriers reached 1.014 billion deadweight tons, a year-on-year increase of 2.9%. The growth rate of delivery scale of the handy fleet continued to rise, while the scale of new orders signed declined. The traffic volume of the Suez and Panama Canal is on the rise, the speed of large ships remains volatile, and the proportion of ships in the port has declined overall.
[Market outlook shows a volatile trend] For the future market, it is expected to remain volatile.
[Risk factors need to pay close attention to investors] Investors should pay attention to geopolitical conflicts, extreme weather conditions and possible emergencies, all of which may have an impact on the market.