Home / Shipping News / Dry Bulk Market / Baltic index up on higher panamax, supramax rates

Baltic index up on higher panamax, supramax rates

The Baltic Exchange’s main sea freight index, which tracks rates for ships carrying dry bulk commodities, was up for a third straight session on Thursday as higher demand for panamax and supramax vessels outweighed a slight dip in capesizes.

The Baltic dry index, tracking rates for capesize, panamax and supramax vessels ferrying dry bulk commodities, rose 9 points, or 0.5%, at 1,837, its highest since Jan. 13.

The capesize index edged 5 points lower, or 0.2%, to 3,077.

Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were down $42 to $25,515.

The panamax index rose 22 points, or 1.4%, to 1,639, a one-week peak.

Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonnes to 70,000 tonnes, were up $199 to $14,749.

The supramax index gained 14 points to 1,133, a peak since late-October of 2019.
Source: Reuters (Reporting by Bharat Govind Gautam in Bengaluru; editing by Uttaresh.V)

Recent Videos

Hellenic Shipping News Worldwide Online Daily Newspaper on Hellenic and International Shipping