Baltic index marks weekly rise on firmer vessel rates
The Baltic Exchange’s main sea freight index rose on Friday, while also notching a weekly gain, helped by higher rates across vessel segments.
The Baltic dry index, which tracks rates for capesize, panamax and supramax vessels ferrying dry bulk commodities, climbed 50 points, or 2.8%, to 1,829 – its highest since Jan. 21.
The index gained about 9% this week.
The capesize index rose 111 points, or 6.6%, to 1,784, its highest level since Feb. 18.
The index firmed nearly 24% for the week.
Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were up $920 at $14,794.
The panamax index gained 29 points, or 1.3%, to an over one-week peak of 2,241.
The index was up 4.7% this week.
Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonnes to 70,000 tonnes, rose $261 to $20,165.
The supramax index added 17 points to 1,917, its highest level, as per Refinitiv Eikon records going back to April 2017. The index marked its fourth weekly gain in a row.
Source: Reuters (Reporting by Bharat Govind Gautam in Bengaluru; Editing by Ramakrishnan M.)