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The shipping market is an intensely cyclical industry and both demand for bulk shipping and daily hire rates change greatly over time. The Baltic Dry Index, the major index of dry bulk shipping rates, fell from a peak over 7,000 in 2007 to a low of 648 in March 2012. [15]
Ocean shipping rates on major trade routes have fallen by more than half since the beginning of this year, a potential sign of easing inflation pressures and alleviated supply chain logjams.
Baltic Dry Index 1985 - 2022. The Baltic Dry Index (BDI) is a shipping freight-cost index issued daily by the London-based Baltic Exchange.The BDI is a composite of the Capesize, Panamax and Supramax timecharter averages.
For example, bulk coal long-distance rates in America are approximately 1 cent/ton-mile. [2] So a 100 car train, each carrying 100 tons, over a distance of 1000 miles, would cost $100,000. On the other hand, Intermodal container shipping rates depend heavily on the route taken over the weight of the cargo, just as long as the container weight ...
The Baltic Dry Index is now down 48% since the start of the new year. While a rate drop-off in the new year is typical because the Chinese New Year decreases demand in the world's largest economy ...
The bulk shipping industry carries large parcels of raw materials and bulky semi-manufactures. This is a very distinctive business. Bulk vessels handle few transactions, typically completing about six voyages with a single cargo each year, so the average revenue depends on a dozen of negotiations per ship each year. In addition, service levels ...
The Baltic Exchange, on a daily basis, publishes a number of freight assessments for various shipping routes reflecting the prevailing level of shipping rates. Such assessments for the corresponding vessel classes are used to calculate the monthly average that freight futures settle against.
The new Valemax ships, expected to cut the company's transportation costs by 20–25%, [143] were blamed for driving down the freight rates for the entire industry, swelling the already oversupplied bulk transportation market and stalling the recovery of the shipping business after the Great Recession.
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