Baltic index hits near 3-week peak on higher rates across vessels

ships

The Baltic Exchange’s dry bulk sea freight index rose to a near three-week high on Tuesday, helped by strong demand across all its vessel segments.

The overall index, which factors in rates for capesize, panamax and supramax vessels, rose 81 points, or 5.7%, to 1,503, its highest level since Jan. 19.

The capesize index climbed 54 points, or 4.7%, to 1,202.

Average daily earnings for capesizes, which transport 150,000-tonne cargoes such as iron ore and coal, increased by $448 to $9,969.

The panamax index gained 116 points, or 6.3%, at 1,971.

Average daily earnings for panamaxes, which ferry 60,000-70,000 tonne coal or grain cargoes, rose by $1,046 to $17,740.

The supramax index rose 96 points to 1,734.

Source: Reuters

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