Stronger Capesize Demand Propels Baltic Index Still Higher

December 10, 2018

File Image / Credit AdobeStock © Lucasz Z
File Image / Credit AdobeStock © Lucasz Z

The Baltic Exchange's main sea freight index, tracking rates for ships transporting dry bulk commodities, rose for the fifth straight session on Monday, buoyed by stronger capesize rates.

The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, gained 13 points, or about 1 percent, to 1,385 points.

The capesize index climbed 2.1 percent, or 47 points, to 2,244 points, highest since Nov. 6. Average daily earnings for capesizes, which typically transport 170,000 tonne-180,000 tonne cargoes such as iron ore and coal, rose by $335 to $17,554.

The panamax index fell 5 points to 1,464 points. Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonnes to 70,000 tonnes, declined by $41 to $11,707.

The supramax index edged up 2 points to 955 points.


Reporting by Brijesh Patel

Logistics News

Two Chinese VLCCs Exit Strait of Hormuz

Two Chinese VLCCs Exit Strait of Hormuz

South African Veterinary Association Stands Against Live Export

South African Veterinary Association Stands Against Live Export

Indiana Breaks Ground on New Grain Facility

Indiana Breaks Ground on New Grain Facility

US Charges Executives and Firms Over Container Cartel

US Charges Executives and Firms Over Container Cartel

Subscribe for Maritime Logistics Professional E‑News

British Airways extends Middle East flights to August 1,
Algeria purchases wheat for shipment to two ports, traders claim
China announces plans to buy 200 Boeing Jets and asks for an extension of the US tariff truce