Baltic Index Rises to Over 4-month High

March 24, 2017

© Volodymyr Kyrylyuk / Adobe Stock
© Volodymyr Kyrylyuk / Adobe Stock
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, closed at its highest level in more than four months, helped by stronger rates across all vessel segments.
 
The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, ended up 44 points, or 3.7 percent, at 1,240 points, a level last seen on Nov. 21.
 
The capesize index gained 137 points, or 5.8 percent, to close at 2,482 points, its highest level since Nov. 23.
 
Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, rose $1,112 to $18,078.
 
The panamax index was up 48 points, or 4.1 percent, at 1,218 points.
 
Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, increased $382 to $9,786.
 
Among smaller vessels, the supramax index climbed 4 points to 896 points, while the handysize index rose 5 points to 526 points.


(Reporting by Nithin Prasad in Bengaluru; Editing by Sai Sachin Ravikumar)

Logistics News

ScioSense Launches UFC23 Ultrasonic Flow Converter for High-Precision, Ultra-Low-Power Smart Metering

ScioSense Launches UFC23 Ultrasonic Flow Converter for High-Precision, Ultra-Low-Power Smart Metering

Samsung Heavy Industries Receives AIP Certificate for Floating Data Center from ABS

Samsung Heavy Industries Receives AIP Certificate for Floating Data Center from ABS

US Import Costs Rise in April, Fuel Sees Biggest Gain in Four Years

US Import Costs Rise in April, Fuel Sees Biggest Gain in Four Years

NexusWave Implemented on IEA Fishing Vessels

NexusWave Implemented on IEA Fishing Vessels

Subscribe for Maritime Logistics Professional E‑News

Price hikes and outlook cuts are used by airlines to combat the fuel price surge.
Taiwan Coast Guard unveils the last of its new missile-carrying ships in war
Data from industry sources show that Russian seaborne oil products exports dropped in April due to drone attacks.