The Baltic Exchange's dry bulk sea freight index experienced its third consecutive decline, reaching its lowest level in nearly two months. The drop, attributed to seasonally slow demand preceding the Chinese New Year, particularly affects capesize, panamax, and supramax vessels. The approaching Lunar New Year typically leads to reduced freight rates, with a significant portion of global dry bulk cargoes destined for China. Analysts anticipate a recovery in rates by the end of February. Additionally, the article highlights a notable increase in Ukraine's food exports via the Black Sea corridor in December. The supramax index continues its 20th consecutive decline, while U.S. and British naval forces intercept drones and missiles near the southern Red Sea, though the impact on dry bulk freight rates is deemed relatively limited.

SOURCE:HELLENIC SHIPPING NEWS