Shanghai Shipping Exchange: Freight rates for various ship types have increased to varying degrees this week. Far East rental index continues to rise.

According to the Shanghai Shipping Exchange, this week, the overall international dry bulk shipping market has remained stable with a slight increase. The demand for iron ore and coal transportation has temporarily improved, and freight rates for different types of ships have increased to varying degrees. In terms of specific ship types, the Capesize market experienced a rise followed by a fall. From last weekend to the beginning of this week, there was an increase in Pacific iron ore cargo volume, leading to a continuation of the previous upward trend in freight rates. However, starting mid-week, market transaction activity continued to cool down, with more low-price transactions occurring, resulting in a decline in freight rates. In the Panamax market, this week saw simultaneous increases in the shipment volumes of Indonesian coal and Australian coal, coupled with some vessels experiencing delays due to previous typhoons and a double support from rising fuel prices, leading to a continuous increase in daily charter rates. In the Supramax market, the transportation demand for various major commodities has shown signs of improvement, with a relatively tight supply of market shipping capacity leading to a slight increase in daily charter rates. On July 16, the Shanghai Shipping Exchange released a Far East dry bulk freight index of 2152.14 points, a 4.5% increase from the previous period.