Large Vessel Rates Firm, Baltic Index Rises

January 3, 2025

Copyright Timon/AdobeStock
Copyright Timon/AdobeStock

The Baltic Exchange's dry bulk sea freight index, which tracks rates for ships carrying dry bulk commodities, rose for a fifth consecutive session on Friday, aided by firm capesize and panamax vessel rates.

The index, which factors in rates for capesize, panamax and supramax shipping vessels, gained 43 points to 1,072 points.

Average daily earnings for capesize vessels, which typically transport 150,000-ton cargoes such as iron ore and coal, increased by $948 to $11,407.

Meanwhile, the most-traded May iron ore contract on China's Dalian Commodity Exchange (DCE) ended daytime trade 2.18% lower at 764 yuan ($104.66) a ton, mainly dragged down by seasonally diminishing demand for the key steelmaking ingredient.

Average daily earnings for panamax vessels, which usually carry 60,000-70,000 tons of coal or grain cargo, rose $353 to $9,358.

(Reuters)

Logistics News

Mexico Expands Its Largest Port in Bet on Economic Growth and Global Trade

Mexico Expands Its Largest Port in Bet on Economic Growth and Global Trade

ESL Joins World Shipping Council

Just-In-Time Arrival: A Triple Win

Just-In-Time Arrival: A Triple Win

Drewry: Global Container Shipping Volume to Fall 1% in Response to Trump Trade Policies

Drewry: Global Container Shipping Volume to Fall 1% in Response to Trump Trade Policies

Subscribe for Maritime Logistics Professional E‑News

Sri Lanka begins talks with India and UAE about a new energy hub
Air India is in talks with Boeing about 10 planes that Chinese airlines have rejected.
Source: US to hold Alaska LNG summit and urge Japan, South Korea, and other countries to support the project