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    Shipping and Logistics

    Logistics Update for End of April

    Written by Sandy Williams


    The seaborne freight market has been relatively flat in the past few weeks. The Baltic Dry Index was at 602 at the end of March but has been under 600 for most of April. As of Friday, April 24, it registered at 600. The BDI tracks dry-bulk rates based on vessel size and shipping route and is a used as a benchmark for overall trade volume.

    According to the MID-SHIP Report, vessels are looking for cargo as export demand softens. Oversupply of vessels has been a problem but MID-SHIP has been hearing of numerous owners scrapping Capes and Panamax vessels at younger ages as “in this tough market the cost of passing ‘special surveys’ (every 5 years) is prohibitive.”

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