Baltic index rises as capesize index hits a near 3-year high


The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk commodities, rose for a 12th straight session on Thursday, driven by firm demand for capesize vessels.

The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, rose 16 points, or 1.02 percent, to end at 1,582 points.

The capesize index was up for a fifth straight session and rose 52 points, or 1.66 percent, to close at 3,186 points, its highest in nearly three years.

Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were up $368 at $22,420.

The panamax index finished up 2 points, or 0.12 percent, to 1,648 points.

Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, rose $19 to $13,249.

Among smaller vessels, the supramax index rose 11 points to end at 1,116 points, while the handysize index increased by 7 points to close at 673 points.

Source: Reuters



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