Drewry Capesize Demand News

Chinese Iron Ore Imports Help Strengthen FFAs

Drewry Maritime Research’s latest Dry Bulk Insight saw the Drewry Hire Index improve to 229 points in June,  a 6% increase from May. The largest improvement was seen in the Capesize vessel segment, resulting in the Drewry Capesize Demand Index increasing by over 80% during the month. This provides a more positive outlook for the dry bulk market thanks to increased chartering activity, low ordering, restricted deliveries and steady demolitions. A burst of Chinese ore importing was the catalyst for a big spike in the dry market in June. Period activity, an important indicator of sentiment, picked up in terms of activity and duration. Turnover soared in the dry ‘swaps’ market (FFAs): at the end of June…