Core Viewpoint - The international dry bulk shipping market experienced a decline followed by a rise in July, influenced by various factors, with the BDI reaching a new high for the year by the end of the month [1]. Market Performance - As of July 28, the BDI was reported at 2226 points, an increase of 52.67% from the beginning of the month, with an average of 1786.9 points for the month, reflecting a month-on-month increase of 5.99% but a year-on-year decrease of 7.19% [1]. - The BCI rose from 2011 points at the start of the month to 3774 points by the end, marking an increase of 87.67%, with a monthly average of 2556.85 points, which is a month-on-month decrease of 11.93% and a year-on-year decrease of 16.98% [1]. - The BPI increased from 1500 points to 1798 points, a rise of 19.87%, with a monthly average of 1766.4 points, reflecting a month-on-month increase of 32.39% and a year-on-year increase of 5.18% [1]. - The BSI went from 1018 points to 1289 points, showing a growth of 26.62%, with a monthly average of 1217.75 points, which is a month-on-month increase of 27.33% but a year-on-year decrease of 10.73% [1]. Market Outlook - The large vessel market rates are expected to decline after reaching high levels, with current market sentiment being volatile, leading to short-term expectations of fluctuations [1]. - Anticipation of increased transportation demand in late August due to the domestic "golden September and silver October" steel consumption peak and mining shipment rhythm may provide some support for freight rates [1]. - In the medium-sized vessel market, grain transportation demand is expected to gradually decrease in August [1]. - The coal sector is in a consumption peak, with high daily consumption levels, and there are expectations for increased daily consumption at power plants. However, due to ample terminal inventory, the likelihood of significant releases in imported coal purchasing demand remains low, indicating limited short-term support for transportation demand [1]. - The market faces risks from tariff policies, extreme weather events, and unexpected incidents [1].