Shanghai Shipping Exchange: Freight rates for the three major vessel types have mostly declined, with few increases; the Far East rental index rose initially before falling.

According to the Shanghai Shipping Exchange, this week, the shipping rates in the three major vessel markets of the international dry bulk transport sector showed more declines than increases, with the Far East dry bulk rental index significantly weakening. By vessel type, the impact of typhoons gradually subsided in the latter half of the week, combined with a decrease in iron ore and coal cargo volumes, leading to weakened shipowner confidence and a correction in the high rates of the Capesize market. In the Panamax market, coal shipments from Indonesia and Australia increased simultaneously this week, resulting in a continuous rise in daily rental rates for vessels. The Supramax market saw a slight increase in nickel ore cargo demand, while demand for steel transport remains weak, with slight fluctuations in daily rental rates due to the operational impact of the typhoon. On August 13, the Far East dry bulk rental index released by the Shanghai Shipping Exchange was 2173.80 points, a decrease of 7.6% from the previous period.