13-05-2017

Baltic index inches up on stronger capesize rates

BI

The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk commodities, rose marginally on Friday on stronger rates for capesize vessels.

The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was up 2 points, or 0.2 percent, at 1,014 points.

The capesize index gained 30 points, or 1.77 percent, to 1,725 points.

Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, was up $203 at $12,944.
The panamax index slipped 14 points, or 1.39 percent, to 992 points, its lowest level in over two months.

Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, declined $110 to $7,980.

Among smaller vessels, the supramax index fell three points to 784 points, while the handysize index was down one point to 509 points.

Source: Reuters

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