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 Gothenburg on Track for All-Time High in TEU Handling

Port of Gothenburg on Track for All-Time High in TEU Handling

United Seamen’s Service Celebrates 56th Admiral of the Ocean Sea Awards

United Seamen’s Service Celebrates 56th Admiral of the Ocean Sea Awards

AAPA Honors Jonathan Daniels with Port Leadership Award

AAPA Honors Jonathan Daniels with Port Leadership Award

Nakilat Reports $360m Profit for Q3

Nakilat Reports $360m Profit for Q3

Subscribe for Maritime Logistics Professional E‑News

Old Dominion's cost control helps it beat quarterly profits
Turkey's Eurofighter Typhoon jet deal includes weapons package, source says
Neste Q3 core profits beat estimates as fuel demand improves in Europe