Baltic index hits over 1-month high on stronger vessel rates

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The Baltic Exchange’s main sea freight index rose to its highest in more than a month on Monday, supported by higher rates across vessel segments.

The Baltic dry index, which tracks rates for capesize, panamax and supramax vessels, was up by 24 points, or about 2%, at 1,235, highest since Nov. 3.

The capesize index rose 47 points, or 3.3%, to 1,481, its highest level in over a week.

Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, gained $393 at $12,282.

The panamax index was up 20 points, or 1.4%, at 1,485, its highest since Sept. 3.

Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonnes to 70,000 tonnes, rose $179 to $13,362.

The supramax index was up 7 points at 1,038, its highest in over 13 months.
Source: Reuters

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