Shanghai Shipping Exchange: This week, the prices of three major ship types dropped more than they rose, and the Far East Panamax freight index declined.

According to the Shanghai Shipping Exchange, this week, the three major types of international dry bulk shipping market freight rates fell more than they rose, with the Far East dry bulk daily rental index falling after a brief rise. By ship type, the Cape size ships in the Pacific market saw a significant decline in freight rates due to the impact of the Singapore holiday and reduced iron ore cargo volume, while the Atlantic market had limited available capacity and saw a slight decrease in rates. Panamax ships saw a reduction in Indonesian coal cargo volumes, leading to an increase in available capacity and a decrease in daily rental rates. Ultramax ships had moderate coal cargo volumes, but were supported by nickel ore and steel cargo volumes, resulting in relatively stable daily rental rates. On June 4th, the Shanghai Shipping Exchange's Far East dry bulk rental index was 2482.82, a decrease of 5.8% from the previous period.