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

Report Details Four Ship Breakaways During Storm

Report Details Four Ship Breakaways During Storm

Consortium to Advance e-Fuel Green Corridor Between Brazil and Belgium

Consortium to Advance e-Fuel Green Corridor Between Brazil and Belgium

Panama Canal Reduces Maximum Vessel Draft for Neopanamax Locks

Panama Canal Reduces Maximum Vessel Draft for Neopanamax Locks

Maritime Drone Self-Detonates in Constanta Port

Maritime Drone Self-Detonates in Constanta Port

Subscribe for Maritime Logistics Professional E‑News

Indian shares to fall due to oil price spike and Asia's sell-off
Cathay Pacific CEO: More aircraft to be ordered across the fleet
United Airlines CEO: Big merger unlikely following American's rejection, but asset purchases are possible