Baltic index logs best day in 2 months

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The Baltic Exchange’s main sea freight index, logged its best day in nearly two months on Monday on gains in rates for capesize and supramax shipping vessels.

The overall index, which factors in rates for capesize, panamax, and supramax shipping vessels, was up 14 points, or 2.6%, at 552.

The capesize index gained 13 points, or 4.8%, at 284.

Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, gained $108 to $2,354.

The supramax index rose 32 points to 727.

The panamax index, however, was down 2 points at 809, lowest since mid-June 2020.

Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, lost $25 to $7,277.

Source: Reuters

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