marine link image

Stronger Capesize Demand Propels Baltic Index

December 14, 2018

File Image: AdobeStock / © Leonid Ermeychuk
File Image: AdobeStock / © Leonid Ermeychuk

The Baltic Exchange's main sea freight index, tracking rates for ships transporting dry bulk commodities, gained on Friday supported by a jump in capesize vessel rates.

The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, gained 36 points, or 2.6 percent, to 1,401 points.

The capesize index rose 203 points, or 9.3 percent, to 2,383 points. Average daily earnings for capesizes, which typically transport 170,000 tonne-180,000 tonne cargoes such as iron ore and coal, increased by $727 to $17,704.

The panamax index climbed 19 points, or 1.3 percent, to 1,478 points. Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonnes to 70,000 tonnes, rose by $156 to $11,828.

The supramax index was up 6 points at 974 points.


Reporting by Harshith Aranya

Logistics News

Russian Oil Producers Threaten Force Majeure Over Baltic Port Attacks

Russian Oil Producers Threaten Force Majeure Over Baltic Port Attacks

BIMCO: 130 Container Ships Stranded in Persian Gulf

BIMCO: 130 Container Ships Stranded in Persian Gulf

Hapag-Lloyd Earnings Down from Last Year

Hapag-Lloyd Earnings Down from Last Year

Transneft Looks to Redirect Oil From Attacked Baltic Ports

Transneft Looks to Redirect Oil From Attacked Baltic Ports

Subscribe for Maritime Logistics Professional E‑News

FAA stops traffic at Washington airports due to odor
WTO is at a 'critical junction' and requires deep reforms, EU and CPTPP claim
The high shipping costs and contract structure limit Russia's ability to reroute LNG away from Europe