marine link image
Register now for the Port of the Future Conference • 2 Days, 50 Ports • Houston/Galveston area, TX • April 12–14, 2027

Stronger Capesize Demand Propels Baltic Index Still Higher

December 10, 2018

File Image / Credit AdobeStock © Lucasz Z
File Image / Credit AdobeStock © Lucasz Z

The Baltic Exchange's main sea freight index, tracking rates for ships transporting dry bulk commodities, rose for the fifth straight session on Monday, buoyed by stronger capesize rates.

The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, gained 13 points, or about 1 percent, to 1,385 points.

The capesize index climbed 2.1 percent, or 47 points, to 2,244 points, highest since Nov. 6. Average daily earnings for capesizes, which typically transport 170,000 tonne-180,000 tonne cargoes such as iron ore and coal, rose by $335 to $17,554.

The panamax index fell 5 points to 1,464 points. Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonnes to 70,000 tonnes, declined by $41 to $11,707.

The supramax index edged up 2 points to 955 points.


Reporting by Brijesh Patel

Logistics News

LD Armateurs Installs Six Rotor Sails on Airbus RoRo Carrier

LD Armateurs Installs Six Rotor Sails on Airbus RoRo Carrier

High Shipping Rates Pressures Asian Oil Refiners Dependent on Middle Eastern Crude

High Shipping Rates Pressures Asian Oil Refiners Dependent on Middle Eastern Crude

JPMorganChase Announces New Leadership for $1.5 Trillion Security and Resiliency Initiative

JPMorganChase Announces New Leadership for $1.5 Trillion Security and Resiliency Initiative

FMC Proposes Remedies to Counteract Unfavorable Spanish Shipping Conditions

FMC Proposes Remedies to Counteract Unfavorable Spanish Shipping Conditions

Subscribe for Maritime Logistics Professional E‑News

Manishi Raymondchaudhuri: The thaw in the Sino-Indian relationship will be a major test for economic growth
Poland suspects Starlink fire as a sabotage
Russia claims it has struck Ukrainian defence industry vessels and facilities