Shanghai Shipping Exchange: The Capesize vessel market experiences a rebound, while the rental rates for small and medium-sized ships remain weak

Questioning AI · Does weak rental demand for small and medium-sized ships suggest a divergence in trade demand?

Everyday Economic News AI Express, on April 4th, the Shanghai Shipping Exchange released the weekly report on the Far East dry bulk shipping market, showing a slight rebound in the international dry bulk shipping market this week, with different trends in rental prices for various ship types.
Looking at each ship type, the Pacific Panamax market saw an increase in iron ore cargoes mid-week, and fuel prices fell back, leading some shipowners to choose to idle and operate long-distance mineral routes.
The Pacific market’s excess capacity pressure eased, and freight rates and daily rental prices rebounded.
The Panama class ship market performed relatively weakly, due to the ongoing inverted prices of foreign trade coal, with domestic power plants shifting to purchase domestic coal, resulting in weak demand for imported coal.
Additionally, grain cargo volumes have recently decreased, leading to an overall market with more ships than cargo, and daily rental prices continued to decline.
The ultra-flexible ship market experienced narrow weak fluctuations; despite sluggish demand for coal transportation, nickel ore shipments increased, and since previous daily rental prices were already relatively low, the weekly decline was limited.
On April 2nd, the Shanghai Shipping Exchange released the Far East dry bulk freight index at 1,645.33 points, up 5.0% from the previous period (March 26th).