The Baltic Dry Index, a key indicator of global shipping demand, has surged to a 3.5-month high, driven by robust demand across various vessel segments. The hotcopper source.
- The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, rose 50 points, or 3.9%, to 1,340, hitting its highest level since May 23.
- The capesize index. BACI, added 96 points, or 6.8%, to 1,512, registering an over three-week peak.
- Average daily earnings for capesize vessels. BATCA, which typically transport 150,000-tonne cargoes carrying commodities such as iron ore and coal, increased $794 to $12,537.
- Iron ore futures increased for a fourth consecutive session, aided by low inventories and pre-holiday restocking, although concerns about lingering steel market weakness in the peak construction season limited gains.
- The panamax index. BPNI gained 19 points, or 1.2%, to 1,642, its highest level in over 4 months.
- Average daily earnings for panamax vessels. BPWT, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, rose $171 to $14,781.
- Among smaller vessels, the supramax index. BSIS added 40 points or 3.5% to 1,196 points.
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Source-hotcopper
