It was a quiet week for the freight market which neither the Singapore F1 race nor typhoon Mangkhut hitting Hong Kong and Souch China failed to make any impact.
The Baltic Dry Index (BDI) started last week on a firmer footing despite the trade tensions between US, China and Turkey that waned investors’ confidence.
Certain segments of the secondhand vessels market are set to do very well over the next two years. According to the VesselsValue & ViaMar’s Market Asset Value Forecast for the second quarter, LR1 product tankers, handysize bulkers and panamax container ships are seen benfitting the most from an upturn in market conditions, although all segments are seen rising
Freight market is showing much lethargy this week, which is similar to the week before as the shipping activities slowed down in June.
The freight market has returned to pre-Labour Day holiday level by the end of the week, thanks to robust steel demand.
The freight market went relatively quiet for the week, ahead of the upcoming May holiday in China. There were no last-ditch fixtures seen just before holidays period and the strong Capesize rates might be the only deterrent for the Baltic Dry Index to slide under the 1,300 level and allowed the index to stabilise at a respectable level of 1,375 reading on Thursday, 26 April 2018.