01-06-2016

Baltic index up on higher Capesize demand

BI

The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Tuesday helped by an increase in demand for capesize vessels.

The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was up six points, or 0.99 percent, at 612 points.

The capesize index gained 24 points, or 2.89 percent, at 854 points.

Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were up $192 to $6,538.

The panamax index was down eight points, or 1.37 percent, at 574 points.

Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, decreased $61 to $4,589.

Among smaller vessels, the supramax index rose one point to 580 points, while the handysize index rose four points to 351 points.

Source: Reuters

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