Baltic index up on firmer rates for panamax vessels


The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk commodities, rose marginally on Monday, supported by higher rates for panamax and smaller vessels.

The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was up 4 points, or 0.34 percent, at 1,187 points.

The panamax index rose 29 points, or 2.42 percent, at 1,227 points.

Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, increased $240 to $9,850.

The capesize index lost 21 points, or 0.93 percent, at 2,243 points.

Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were down $129 to $16,819.

Among smaller vessels, the supramax index rose 4 points to 860 points, while the handysize index rose 1 point to 487 points.

Source: Reuters



Comments are closed.