Ocean freight was largely stable in April, but to rise slightly in May

Published: May 16, 2023 13:30

Source: SMM

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SHANGHAI, May 16 (SMM) - In April 2023, ocean freight was largely stable. The Baltic Dry Index (BDI) stood at 1,576 points at the end of April, up 164 points from the beginning of the month, but still at a historically low level.

Global shipping demand was gradually recovering in early May, and ocean freight rose slightly due to rising fuel costs. It is expected that nickel ore shipments will increase in May, and ocean freight may rise slightly.

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