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

Fincantieri to Build Third Hospitality Vessel for Marc-Henry Cruise

Fincantieri to Build Third Hospitality Vessel for Marc-Henry Cruise

Hapag-Lloyd to Deploy NexusWave Fleetwide

Hapag-Lloyd to Deploy NexusWave Fleetwide

MPA, World Maritime University to Continue Strengthening Maritime Education, Leaders

MPA, World Maritime University to Continue Strengthening Maritime Education, Leaders

Maersk, Hapag-Lloyd to Resume Suez Canal Sailings

Maersk, Hapag-Lloyd to Resume Suez Canal Sailings

Subscribe for Maritime Logistics Professional E‑News

Canada - 7 July
Sources say that the discount for Urals crude in India has risen to $10 or more per barrel.
Cuba struggles to restore electricity to the island after nationwide grid collapse