05-07-2016

Baltic index up as demand rises across all segments

capesize

The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Monday boosted by increased demand across all vessel segments.

The overall index, which factors in rates for capesize, panamax, supramax and handysize vessels, was up 11 points, or 1.62 percent, at 688 points.

The capesize index gained 19 points, or 1.84 percent, at 1,049 points.

Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were up $137 to $7,490.

The panamax index was up 19 points, or 2.75 percent, at 710 points.

Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, increased $151 to $5,679.

Among smaller vessels, the supramax index rose six points to 633 points, while the handysize index rose three points to 347 points.

Source: Reuters

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