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

Port of Antwerp-Bruges Reports Weak Start to the Year

Port of Antwerp-Bruges Reports Weak Start to the Year

Hydrogen Fuel Cell Harbor Craft Pilot Study Launched in Singapore

Hydrogen Fuel Cell Harbor Craft Pilot Study Launched in Singapore

BIMCO Warns of Hormuz Toll Scam

BIMCO Warns of Hormuz Toll Scam

HPH Trust Unveils Hong Kong’s First Autonomous Truck Fleet

HPH Trust Unveils Hong Kong’s First Autonomous Truck Fleet

Subscribe for Maritime Logistics Professional E‑News

Indian shares open lower due to higher oil prices and weak Infosys predictions
Sources say that the demand for Russian Urals crude oil is increasing, which has led to an increase in freight rates.
Stocks close lower on fading hopes for quick Iran deal, mixed quarterly earnings