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

Port of Oakland Moves 174,239 TEUs in November as Exports Increase

Port of Oakland Moves 174,239 TEUs in November as Exports Increase

CMA CGM Vessels Navigate the Suez Canal, Hinting at Easing Tensions

CMA CGM Vessels Navigate the Suez Canal, Hinting at Easing Tensions

Oil Loading in Venezuela Crawls After New US Interceptions

Oil Loading in Venezuela Crawls After New US Interceptions

FMC Investigates Spain’s Restrictive Port Practices

FMC Investigates Spain’s Restrictive Port Practices

Subscribe for Maritime Logistics Professional E‑News

Vingroup shares fall on withdrawal of rail project, weighing Vietnam index
Vingroup, Vietnam's bidder for the $67 billion North-South high speed railway, withdraws its bid
Iran claims foreign tanker smuggled fuel was seized in Gulf