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 Albany-Rensselaer Holds PERMA Safety Training

Port of Albany-Rensselaer Holds PERMA Safety Training

Shipping Slows Through Strait of Hormuz After Tanker Attacks

Shipping Slows Through Strait of Hormuz After Tanker Attacks

Yemen's Mocha Port Halts Operations After Houthi Attacks

Yemen's Mocha Port Halts Operations After Houthi Attacks

Automation is Optimizing US Logistics

Automation is Optimizing US Logistics

Subscribe for Maritime Logistics Professional E‑News

Oil spillage off Oman is threatening to cause a disaster as two slicks are seen in the Gulf
Sources say that the Sheskharis terminal in Russia's Black Sea halted loadings following a drone attack.
Data shows that Turkey has cut its Russian oil imports due to Black Sea export disruptions, which have slowed down supplies.