Baltic index gains after three-session slide

ships

The Baltic Exchange’s main sea freight index, which tracks rates for ships carrying dry bulk commodities, snapped a three-session losing steak on Tuesday helped by higher rates for the capesize and supramax vessel segments.

The Baltic dry index, tracking rates for capesize, panamax and supramax vessels ferrying dry bulk commodities, was up 26 points, or 1.5%, at 1,766.

The capesize index gained 73 points, or 2.6%, at 2,912.

Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were up $607 at $24,148.

The panamax index dropped 6 points, or 0.4%, to an over one-week low of 1,612.

Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonnes to 70,000 tonnes, fell $53 to $14,506.

The supramax index rose 8 points to 1,104, its highest since end-October 2019.
Source: Reuters

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