Shanghai Shipping Exchange: Demand for three major types of ships is still weak, Far East dry bulk freight index continues to decline.

On May 17, the Shanghai Shipping Exchange released its weekly report on the Far East dry bulk shipping market, showing that this week, the international dry bulk shipping market continued to show weakness. The demand for transportation in all three major ship types was relatively low, with excess available capacity leading to a decrease in shipping rates and daily rental prices. In terms of specific ship types, the Capesize market saw cautious inquiries from major Australian and Brazilian miners, with limited new cargo inquiries and continued downward pressure on shipping rates. The Panamax and Supramax markets continued to show lackluster performance in coal shipments, with limited support from grain transportation demand. The reduction in nickel ore and other cargo inquiries led to a situation of too many ships and too little cargo, resulting in a drop in daily rental prices. On May 15, the Shanghai Shipping Exchange's Far East dry bulk freight index was 1059.25 points, a 6.3% decrease from May 8.