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

Ship Managers Step Up with Plans for Stability

Ship Managers Step Up with Plans for Stability

Unite, Prepare and Enable Maritime Cyber Readiness

Unite, Prepare and Enable Maritime Cyber Readiness

Book Review - BLUE BHARAT: India’s Voyage to a Resilient Ocean Economy

Book Review - BLUE BHARAT: India’s Voyage to a Resilient Ocean Economy

HD Hyundai Samho Receives LR AiP for Container Loading System

HD Hyundai Samho Receives LR AiP for Container Loading System

Subscribe for Maritime Logistics Professional E‑News

Stellantis will produce three new Peugeots in Mulhouse
ADNOC's trading chief identifies August as a tipping point in oil prices
A bus driver is charged with manslaughter on five counts in a Virginia highway accident