Shanghai Shipping Exchange: Sea cape ship market freight rates hit record high, Far East bulk cargo charter index stops falling and rebounds

Shanghai Shipping Exchange: This week, the international dry bulk shipping market saw varying trends in freight rates for different ship types, but overall they remain at high levels. The Far East dry bulk daily rental index rebounded with support from large vessels. The Capesize market reached a new high with strong support from Australian iron ore cargo. The Panamax market in the Pacific still has some coal cargoes, with rental rates relatively stable and grain prices slightly declining. The Supramax market demand remains lukewarm with a slight decrease in rental rates. On May 28th, the Far East dry bulk rental index released by the Shanghai Shipping Exchange was 2635.93, up 6.1% from the previous period.