Higher panamax rates buoy Baltic index


The Baltic Exchange’s main sea freight index gained for a seventh straight session on Tuesday, as higher demand for panamax and supramax vessels offset a slight dip in capesizes.

The Baltic dry index, which tracks rates for capesize, panamax and supramax vessels, edged up 9 points, or 0.8%, at 1,178, a peak since Nov. 10.

The capesize index edged 3 points lower, or 0.2%, at 1,447, snapping a three session-long streak of gains.

Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore — a steelmaking raw material — and coal, dropped $25 to $11,996.

Steel futures on the Shanghai Futures Exchange (ShFE) closed lower on Tuesday due to unfavourable weather conditions and a rise in COVID-19 infections in China.

The panamax index gained 14 points, or 1%, at 1,398, its highest level since Oct. 14.

Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonnes to 70,000 tonnes, rose $127 to $12,583.

The supramax index was up by 21 points to 973, its highest since Oct. 19.
Source: Reuters

You can share this post!

Related News


Leave Comments

instagram takipçi satın almak

Tik tok izlenme satın al

instagram takipçi satın almak mı istiyorsunuz ozaman sizlere türkiyenin en güvenilir sitesi olan instagramtakipz.com sitesini öneriyoruz iyi alışverişler diliyoruz.