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2026-10-31 08:38:24
[Shanghai Shipping Exchange: Crude Oil Freight Rates Rise Slightly This Week, Dry Bulk and Container Indices Diverge] ⑴ According to the Shanghai Shipping Exchange, Brent crude oil futures prices rose slightly this week, closing at $114.88 per barrel on Thursday, up 1.51% from October 22. ⑵ Global crude oil shipping market saw VLCC tanker freight rates fluctuate at high levels. China's imported VLCC shipping market saw a slight increase in freight rates. On October 29, the China Imported Crude Oil Freight Index was 17392.47 points, up 1.6% from October 22. ⑶ The international dry bulk shipping market saw divergent freight rate trends across the three vessel types. Panamax vessels were weak, Supramax vessels remained stable, and Capesize vessels provided strong support to the market in the second half of the week, driving the Far East dry bulk charter rate index to stop falling and rise. (4) Capesize vessels saw a release of iron ore cargoes in both the Atlantic and Pacific markets, tightening available capacity and driving up freight rates. Panamax vessels experienced a significant drop in daily charter rates due to the sluggish Atlantic market. Supramax vessels were affected by weak demand for coal and nickel ore returning to China, but strong demand for steel exports from northern China and robust demand for coal transportation from Indonesia to Southeast Asia and India kept daily charter rates high. (5) On October 29, the Far East Dry Bulk Charter Rate Index was 2254.38 points, a slight increase of 0.3% compared to October 22. (6) The coastal bulk cargo market showed divergent trends. Coal freight rates declined after the typhoon subsided, while coastal grain freight rates rose seasonally. Diesel shipping demand provided some support. On October 30, the China Coastal Bulk Cargo Composite Freight Rate Index was 1122.1 points, an increase of 1.3% compared to the previous period. (7) China’s export container shipping market remained basically stable, with freight rates on different routes showing divergent trends. The composite index rose slightly. On October 30, the Shanghai Export Container Freight Index was 3687.35 points, up 0.2% from the previous period.
