Firmer Capesize Rates Prop Up Baltic Index

Monday, October 15, 2018

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Monday, helped by strong demand for capesize vessels.

The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, gained 5 points, or 0.3 percent, to 1,584 points.

The capesize index rose 20 points, or 0.9 percent, to 2,189 points.

Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore and coal, were up $148 at $18,894.

The panamax index gained 4 points to 1,779 points, its highest since Jan. 2, 2014.

Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, increased $32 to $14,259.

The supramax index fell 4 points to 1,200 points.


(Reporting by Brijesh Patel in Bengaluru; Editing by Shailesh Kuber)

Categories: Bulk Carriers Finance

Related Stories

Potential Return of Container Ships to Red Sea Following US-Houthi Ceasefire Could Collapse Freight Rates

USTR Implements Port Fee Proposal

US Waters Down China Ship Fee Plans, COSCO Remains Indignant

Current News

US Freight Industry Hopes for Back-to-School Demand Boost After Tariff Truce

CMA CGM to Redeploy Fleet to Avoid US Port Fees on Chinese Vessels

Israel Attacks Yemeni Ports, Says Houthi-Run TV Outlet

DFDS Reaches 10,000 Sailings in Türkiye

Subscribe for Maritime Logistics Professional E‑News