Baltic Index Extends Gains on Jump in Capesize Sector

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The Baltic Exchange’s main sea freight index extended gains on Wednesday on a jump in the capesize segment, while strength in panamax and supramax vessels also lent support, reports OOLP.

The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, increased by 103 points, or 4.5%, to 2,387.

Capesize index

The capesize index gained 243 points to 2,551, a rise of about 10.5%.

Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, rose by $2,019 to $21,157.

Panamax index

The panamax index added 77 points, or 2.9%, to 2,706 points.

Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonnes to 70,000 tonnes, increased by $698 to $24,355.

Supramax index

The supramax index edged up 3 points to 2,454.

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Source: OOLP

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