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

Subsea Global Solutions Launches New C-ROV Services

Subsea Global Solutions Launches New C-ROV Services

CSP Bilbao Terminal Invests $11m in New Post-Panamax Crane

CSP Bilbao Terminal Invests $11m in New Post-Panamax Crane

Hackathon Spotlights AI, Autonomous Systems for Maritime Security

Hackathon Spotlights AI, Autonomous Systems for Maritime Security

SeaRenergy Restructures Management to Compliment Company Growth, Industry Trends

SeaRenergy Restructures Management to Compliment Company Growth, Industry Trends

Subscribe for Maritime Logistics Professional E‑News

Native Taiwanese paddle to the Philippines to reconnect a long-lost route
China targets heavy truck electric-drive in a bid to reduce diesel demand
The producers call the IMO's definition of Brazil corn-ethanol carbon footprint as a milestone.