Baltic Index Rises for Sixth Day Straight

August 7, 2017

© Sergej Razvodovskij / Adobe Stock
© Sergej Razvodovskij / Adobe Stock

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Monday for the sixth straight session, helped by higher rates for larger vessels.

The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was up 4 points, or 0.39 percent, at 1,036 points.

The capesize index increased 18 points, or 1.1 percent, to 1,655 points.

Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were up $176 at $13,139.

The strength in the steel market spilled over to raw material iron ore, with the most-traded iron ore on the Dalian Commodity Exchange rising 7.3 percent, the highest since March 21.

Iron ore shipments account for around a third of seaborne volumes on the larger capesizes.

The panamax index was up 5 points, or 0.43 percent, at 1,158 points.

Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, increased $36 to $9,273.

Among smaller vessels, the supramax index fell 2 points to 762 points, while the handysize index dipped 3 points to 475 points.


(Reporting by Karen Rodrigues in Bengaluru; Editing by Martina D'Couto)

Logistics News

Aptamus Picks Aker Solutions’ Entr for LCO2 Terminal Engineering

Aptamus Picks Aker Solutions’ Entr for LCO2 Terminal Engineering

Seafarers Stranded Off Yemen After US-Houthi Ceasefire Deal

Seafarers Stranded Off Yemen After US-Houthi Ceasefire Deal

Maersk Warns Global Container Volumes Could Drop Due to Trade War

Maersk Warns Global Container Volumes Could Drop Due to Trade War

Near-Record US Container Imports in April Expected to Snap in May Due to Tariffs

Near-Record US Container Imports in April Expected to Snap in May Due to Tariffs

Subscribe for Maritime Logistics Professional E‑News

U.S. natural gas liquids exports reach record highs in April
South Korea's MFG purchases about 67,000 T of corn, traders claim
US Commerce Secretary: UK to announce $10 Billion Boeing Purchase