29-06-2016

Baltic index rises for fifth consecutive session

BI

The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Tuesday for a fifth straight session on stronger demand across all vessel segments.

The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was up 11 points, or 1.79 percent, at 627 points.

The capesize index rose 17 points, or 1.85 percent, to 936 points.

Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were up $104 at $6,595.

The panamax index rose 17 points, or 2.83 percent, to 618 points.

Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, increased $137 to $4,948.

Among smaller vessels, the supramax index rose 6 points to 593 points, while the handysize index was up 5 points at 336 points.

Source: Reuters

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