At the beginning of the new year, BDI plummeted by 10%, and the freight rate of the container sh
- Author:Josie
- Source:Search Air
- Release Date:2020-01-04
On January 2, 2020, the BDI reflecting commodity prices closed at 976 points, down 114 points or 10% from the previous trading day (December 24, 2019).
At the beginning of the new year, BDI plummeted by 10%, and the freight rate of the container shipping market continued to rise!
Specifically, the Capesize Index (BCI) dropped sharply by 304 points, a drop of 15.59% to 1,646 points. The BSI index fell 33 points to 685 points. The Panamanian Freight Index (BPI) and the Flexible Freight Index (BHSI) have not released the latest data.
Previously, on December 24, 2019, the BDI closed at 1090 points. At that time, it had fallen for 15 consecutive trading days.
In contrast, recently, the freight rate of the container shipping market has risen for two consecutive months, ushering in a small climax.
On January 3, 2020, the Shanghai Export Container Freight Index released by the Shanghai Shipping Exchange was 1022.26 points, an increase of 20.22% from 850.27 points on December 6, 2019.
Shipping consulting agency Jefferies believes that the good market in the container shipping market will continue until 2020.
At the beginning of the new year, BDI plummeted by 10%, and the freight rate of the container shipping market continued to rise!
Jefferies analysis said that part of the reason for the continuous rise in freight rates in the container shipping market in recent times was the introduction of low-sulfur fuel surcharges by shipping companies. In addition, about 6% of the world ’s capacity is currently suspended, and some ships are suspended due to the modification of desulfurization equipment. The temporary reduction in capacity has further pushed up freight rates.
Jefferies further predicts that the reduction in shipping capacity and the easing of Sino-US trade frictions will help keep freight rates in the container shipping market at a relatively high level for some time to come.
At the beginning of the new year, BDI plummeted by 10%, and the freight rate of the container shipping market continued to rise!
Specifically, the Capesize Index (BCI) dropped sharply by 304 points, a drop of 15.59% to 1,646 points. The BSI index fell 33 points to 685 points. The Panamanian Freight Index (BPI) and the Flexible Freight Index (BHSI) have not released the latest data.
Previously, on December 24, 2019, the BDI closed at 1090 points. At that time, it had fallen for 15 consecutive trading days.
In contrast, recently, the freight rate of the container shipping market has risen for two consecutive months, ushering in a small climax.
On January 3, 2020, the Shanghai Export Container Freight Index released by the Shanghai Shipping Exchange was 1022.26 points, an increase of 20.22% from 850.27 points on December 6, 2019.
Shipping consulting agency Jefferies believes that the good market in the container shipping market will continue until 2020.
At the beginning of the new year, BDI plummeted by 10%, and the freight rate of the container shipping market continued to rise!
Jefferies analysis said that part of the reason for the continuous rise in freight rates in the container shipping market in recent times was the introduction of low-sulfur fuel surcharges by shipping companies. In addition, about 6% of the world ’s capacity is currently suspended, and some ships are suspended due to the modification of desulfurization equipment. The temporary reduction in capacity has further pushed up freight rates.
Jefferies further predicts that the reduction in shipping capacity and the easing of Sino-US trade frictions will help keep freight rates in the container shipping market at a relatively high level for some time to come.