Baltic Index rises on higher capesize rates

23 july 2018

The Baltic Exchange’s main sea freight index, which tracks rates for ships carrying dry bulk commodities, rose on Friday on higher capesize rates.

The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, increased 32 points, or 1.9 percent, to 1,689 points.

The capesize index rose 75 points, or 2.4 percent, at 3,205 points. The index hit a seven-month high of 3,335 points on Tuesday. It also saw its fourth straight weekly rise, up 1.5 percent.

Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore and coal, increased by $619 to $24,446.

The panamax index rose 19 points, or 1.2 percent, to 1,557 points, its highest since March. The index rose about 2 percent this week.

Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, increased by $150 to $12,457.

The supramax index rose 7 points to 1,023 points.

Source: MARINELINK