Jun 9, 11:10 AM

Shanghai Containerized Freight Index Rises 29.5% as Capesize Index Hits 24,961; Tanker VLCC Rates Up 5%

The Shanghai Containerized Freight Index for Europe Service (basic ports) surged by 29.5% week-over-week to 1,622.81, reflecting increased shipping activity. The Capesize index, a key benchmark for large bulk carriers, reached a year-to-date high of 24,961 points, up 1,390 points, before declining slightly to 24,519 points, down 442 points. Tanker spot rates showed mixed movements: Very Large Crude Carriers (VLCC) rates increased by 5% to $26,000 per day, Suezmax rates fell by 1% to $33,000 per day, and Aframax rates dropped by 4% to $32,000 per day. Other tanker segments such as LR2, LR1, and MR also experienced minor declines or slight increases. Shares of shipping companies including Navios Maritime Partners (NMM), Star Bulk Carriers (SBLK), and Scorpio Tankers (STNG) were mentioned in relation to these market movements.

#Capesize #Very Large Crude Carriers #VLCC #Suezmax #Aframax #Navios Maritime Partners #NMM #Star Bulk Carriers #SBLK #Scorpio Tankers

Written with ChatGPT (GPT-4).

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Shanghai Containerized Freight Index Rises 29.5% as Capesize Index Hits 24,961; Tanker VLCC Rates Up 5%

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