On September 4, Reuters - the Baltic exchange dry bulk freight index jumped on Wednesday, because of Chinese demand pipe fitting 45 degree LR elbows for iron ore, pushing up the larger ship freight.
Dry bulk freight index rose 47 Industry Standard Welding Neck Flange points, or 4.02%, to 1215 points. The index measures the iron ore, cement, grain, coal, and chemical fertilizer resources such as transportation costs.
The Baltic capesize ship freight index rose 101 points, or 4.31%, to 2445 points. Average daily profit rose $1517 to $17854."In recent weeks, China has increased the demand for iron ore, has been standard specification for seamless carbon steel mechanical tubing pushing capesize rates now year highs," GHS research analyst OmarNokta said in a report."The upcoming U.S. grain export season should further boost dry bulk trade," he added.
RSPlatouMarkets FrodeM analysts? Rkedal said in astm a53 schedule 80 galvanized steel pipe its report that capesize rates is expected before the November climbed to a two-year high.The Baltic freight index panamax ship up 12 points, or 1.3%, to 933 points. Average daily profit increase of $103 to $7456.
"In my opinion, the dry bulk shipping market is still the fastest growing areas of shipping, than liquefied petroleum gas (LPG), liquefied natural gas (LNG), crude oil, oil or container transportation market development quick," Nokta said.
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