Baltic dry bulk freight index fell for four days

The Baltic Shipping Exchange's dry bulk freight index BDI fell for the fourth consecutive trading day on Wednesday. Brokers said that the larger Capesize market still has support. The Baltic Dry Index fell by 15 points to 2729. “The increase in exports of iron ore from Australia and Brazil is one of the reasons why the Capesize shipping market is stronger than in July,” said SSY. The BCI of the Baltic Capesize index fell slightly by 0.07%, and the average rent of Capesize ships fell by 49 to US$45,617. "But the Capesize Freight Index has not shown any signs of slowing in the recent past, and Panamax freight rates should rebound," brokers said. The Baltic Sea Panamax freight index BPI fell 0.64%, and the average rent for this type of ship fell to 17,484 US dollars. However, the index for the super-smart portable freight rate BSI fell 0.87%. Brokers said that the warming of US grain exports later this year will increase demand for smaller vessels.