Shanghai Shipping Exchange: Capesize vessel freight rates fell sharply, and the Far East rental index declined markedly.

According to the Shanghai Shipping Exchange, this week, rates in the three major vessel segments of the international dry bulk shipping market fell more often than they rose, and the Far East dry bulk rental index declined notably. By vessel type, rates in the Capesize market fell sharply. Before the holiday, cargo volumes in the Pacific market were relatively low and available capacity was excessive, which, combined with the continued decline in FFA forward contracts, weighed on rates. After the holiday, cargo volumes were fair, and rates stopped falling and rebounded slightly. In the Panamax market, daily hire rates continued to rise. Coal cargo volumes were generally good, and grain transportation demand provided slight support, keeping daily hire rates on an upward trend. In the Supramax market, daily hire rates first fell and then rose. Export steel and nickel ore cargo volumes operated steadily, while coal cargo volumes shrank slightly before the holiday, causing daily hire rates to fluctuate within a narrow range. On October 8, the Far East dry bulk rental index released by the Shanghai Shipping Exchange was 2,303.98 points, down 10.2% from the previous period.