24-06-2016

Strong Demand Across Vessel Segments Pushes Up Baltic Index

BI

The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Thursday as demand strengthened across all vessel segments.

The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was up 11 points, or 1.88 percent, at 596 points.

The capesize index rose 19 points, or 2.16 percent, to 897 points.

Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were up $146 to $6,253.

The panamax index was up 13 points, or 2.34 percent, at 569 points.

Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, increased $107 to $4,554.

Among smaller vessels, the supramax index rose 7 points to 577 points, while the handysize index rose 4 points to 322 points.

Source: Reuters

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