Shanghai Shipping Exchange: Far East dry bulk freight index stops falling and rises.

On May 24, the weekly report of the Far East bulk cargo transportation market released by the Shanghai Shipping Exchange showed that this week, the trends of various ship types in the international dry bulk transportation market were mixed. Under the increase in shipping rates of Cape-sized ships, the Far East dry bulk freight index stopped falling and rose. By ship type, although the Cape-sized ship market was disrupted at the beginning of the week by the cancellation of mining rights in West Africa, demand for shipping in the two major ocean markets improved significantly, and rates fluctuated upwards. The Panamax ship market had stable demand for grain transportation in South America, while demand for coal transportation in the Pacific market was initially stable and then weakened, with daily rates trending relatively flat. The Supramax ship market had relatively few cargoes such as coal and nickel ore, resulting in a slight decrease in daily rates. On May 22, the Far East dry bulk freight index released by the Shanghai Shipping Exchange was 1134.35 points, up 7.1% from May 15.