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

Xeneta: Weekly Ocean Container Shipping Market Update

Xeneta: Weekly Ocean Container Shipping Market Update

Argentinian Grain Ports Operate Normally Post Strike

Argentinian Grain Ports Operate Normally Post Strike

Konecranes Introduces Gottwald ESP.4 Mobile Harbor Crane

Konecranes Introduces Gottwald ESP.4 Mobile Harbor Crane

Argentine Labor Strike Hits Ports

Argentine Labor Strike Hits Ports

Subscribe for Maritime Logistics Professional E‑News

Trump will travel to China in the next month to discuss US tariffs
Slovakia has threatened to cut off electricity to Ukraine until Kyiv resumes pipeline Russian oil
MOL: Croatia must allow Russian oil to flow into Hungary and Slovakia