17-05-2016

Baltic index rises on stronger capesize rates

capesize

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

The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was up 13 points, or 2.17 percent, at 613 points.

The capesize index gained 56 points, or about 7 percent, to 854 points.

Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were up $454 to $6,740.

The panamax index was up one point, or 0.17 percent, to 598 points.

Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, increased $15 to $4,783.

Among smaller vessels, the supramax index was down one point at 552 points, while the handysize index remained flat at 347 points.

Source: Reuters

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