Baltic index scales near 2-month peak on stronger rates

ships

The Baltic Exchange’s main sea freight index climbed to its highest level in nearly two months on Monday as rates improved for all vessel segments.

The Baltic dry index, which tracks rates for capesize, panamax and supramax vessels ferrying dry bulk commodities, added 24 points, or 1.3%, to 1,853 – its strongest since Jan. 13.

The capesize index rose 41 points, or 2.3%, to an over two-week high of 1,825.

Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were up $344 to $15,138.

The panamax index was up 17 points, or 0.8%, to 2,258.

Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonnes to 70,000 tonnes, gained $158 to $20,323.

The supramax index advanced 16 points to 1,933, its highest level according to Refinitiv Eikon records going back to April 2017.

Source: Reuters

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