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

Hormuz Traffic Slows as Uncertainty Persists

Hormuz Traffic Slows as Uncertainty Persists

Portchain and X-Press Feeders Partner on Efficiency

Portchain and X-Press Feeders Partner on Efficiency

Iraq to Export Crude via Multiple Outlets

Iraq to Export Crude via Multiple Outlets

Data Center Projects Boost Port of Los Angeles July Volumes

Data Center Projects Boost Port of Los Angeles July Volumes

Subscribe for Maritime Logistics Professional E‑News

Twelve dead and at least 10 injured after Polish bus crash in Hungary
The Danube's record low levels have revealed sunken World War Two shipwrecks
US puts pressure on EU to "deliver" on non-tariff commitments