Baltic Index Up for 20th Session on Stronger Vessel Demand

June 25, 2020

©  Image'in / Adobe Stock
© Image'in / Adobe Stock

The Baltic Exchange's main sea freight index extended gains for a 20th straight session on Thursday, on firmer rates across all vessel segments.

The Baltic dry index, which tracks rates for ships ferrying dry bulk commodities and reflects rates for capesize, panamax and supramax vessels, gained 33 points, or 1.9%, to 1,738, its highest since October 30.

The index has surged about 60% so far this year and has recouped losses brought about by the coronavirus pandemic that sapped demand for vessels.

The Baltic capesize index gained 24 points, or 0.6%, to 4,213, its highest since September 18.

Average daily earnings for capesizes, which typically transport cargoes of 170,000 tonnes to 180,000 tonnes, including iron ore and coal, rose by $738 to $29,395.

The panamax index was up by 8 points, or 0.6%, to 1,253, its highest since December 19

Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonnes to 70,000 tonnes, rose $71 to $11,273.

The supramax index edged 4 points higher to 678.


(Reporting by Nakul Iyer in Bengaluru; Editing by Shailesh Kuber)

Logistics News

Saronic Picks Texas for New $3B Shipyard

Saronic Picks Texas for New $3B Shipyard

EU Grain Exporters Prepare for Increased Demand Amidst Black Sea Attacks

EU Grain Exporters Prepare for Increased Demand Amidst Black Sea Attacks

Port of Antwerp-Bruges Sees Decline in Goods in H1 2026

Port of Antwerp-Bruges Sees Decline in Goods in H1 2026

European Wheat Prices Jump to 17-Month High Amidst Renewed Black Sea Tensions

European Wheat Prices Jump to 17-Month High Amidst Renewed Black Sea Tensions

Subscribe for Maritime Logistics Professional E‑News

Three people killed in Russia's strikes on Black Sea ports of Ukraine
Greece warns that EU sanctions against Russia could lead to a loss of LNG market share by rivals
Twenty pupils die in Uganda bus crash, government bans all school outings