Dry Bulk Rally Gains Even More Steam

August 17, 2021

© owr / Adobe Stock
© owr / Adobe Stock

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, rose for a sixth straight session on Tuesday, scaling its highest in more than a decade on stronger demand across vessel segments.

The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, rose 1.4%, or 51 points, to 3,657, the highest since June 2010.

The capesize index jumped 98 points, or 2%, to 4,950, a peak since May 11.

Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, rose by $812 to $41,049.

The panamax index advanced 33 points, or 0.9%, to its highest since June 19 at 3,617.

Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonnes to 70,000 tonnes, increased by $299 to $32,552.

Among smaller vessels, the supramax index rose about 27 points to an all-time high of 3,146, according to Refinitiv Eikon data available since 2017.

Several Chinese ports are facing congestion as vessels due to call at Ningbo are being diverted and cargo processing is slowed partly due to stricter disinfection measures under China's "zero-tolerance" coronavirus policy.


(Reporting by Rahul Paswan; Editing by Subhranshu Sahu)

Logistics News

Inland Tank-Barge Safety Guide Updated

Inland Tank-Barge Safety Guide Updated

BY THE NUMBERS: Copper is Cargo Theft King

BY THE NUMBERS: Copper is Cargo Theft King

SeaTac Marine Leverage MARAD Grant for New Equipment

SeaTac Marine Leverage MARAD Grant for New Equipment

First Green Methanol Bunkering of New Car Carrier Successfully Completed

First Green Methanol Bunkering of New Car Carrier Successfully Completed

Subscribe for Maritime Logistics Professional E‑News

China's flood season is in full swing, and extreme rainfall has already begun to threaten the north
Enagas, a Spanish company, buys Saggas' stake and says that it is on target to reach its 2026 goals
Bousso: The electrification of Europe's ROI will be a decade-long struggle.