According to data released recently by the Baltic Shipping Exchange, the average rent for large dry bulk carriers rose slightly during the Lunar New Year, the decline in the Baltic Integrated Dry Freight Index (BDI) has narrowed, and bulk carrier rents have fallen since the end of last year. The situation is expected to end.

Affected by too many new ships and reduced Australian coal exports, the rents of Panamax and Capesize have continued to fall in the past month. The chartering market remained quiet before the Lunar New Year holiday. BDI has been falling for nine consecutive weeks. The longest drop since 6 and a half years. The BDI reported 1043 points on Friday, a slight drop of 0.2%. Compared with the lowest point of 663 points on December 5, 2008, the gap between the two was only 380 points. The continuous decrease in the rental of bulk carriers last week had been seen by shipowners. Expressly refused to accept a daily rent of less than $10,000.

The recent average daily rent of the Capesize has dropped to a very low level of just over US$5,000. If there is no support for Panamanian boat rentals, BDI may fall below the lowest level. During the Lunar New Year, although the charter trading market remains quiet as usual, the rental of large bulk carriers is picking up, especially for Panamax boats.

The Panamax Freight Index (BPI) rose by 2.8% to 1,348 points last Friday, with an average daily rental of $10,786. The daily rental of Panamax-type vessels on the Pacific route, where the decline was more pronounced, rose by 394 U.S. dollars last Friday to 1,047 U.S. dollars.

The Capesize Freight Index (BCI) rebounded slightly from 0.08% to 1299, and daily rentals reported at US$5161. The performance of the two major routes has improved. The freight from Brazil to China was reported in US dollars per ton of cargo, up by US$ 0.07 from last Thursday. The freight rate per ton of cargo on the Western Australia-China route increased by US$0.01 to US$6.41. Although the increase in rents is very slight, it has recorded a single-day decline of up to 10% in the week before the Lunar New Year holiday. The decline seems to have bottomed out. Some shipowners will also transfer water from Wanwan to wait for rent to rise, which will help control the market. On the excessive capacity.

The Surrey Shipborne Freight Index (BSI) fell 1% to 1,099, and the daily rental was $11,398.