Baltic Index Increases As Demand For Larger Vessels Is Steady

Credits: Matthis Volquardsen/ Pexels

The primary sea freight indicator for the Baltic Exchange. For the third session in a row, BADI, tracking rates for ships transporting dry bulk commodities increased on Wednesday, helped by higher prices for larger vessel segments, primarily panamax.

* The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, gained 52 points, or about 3.5%, to its highest level in over two weeks at 1,525.
* The capesize index.BACI rose 90 points, or about 4.8%, to 1,957, its highest since March 16.

* Average daily earnings for capsizes.BATCA, which typically transports 150,000-tonne cargoes carrying commodities such as iron ore and coal, increased by $750 to $16,233.

* The panamax index.BPNI to its highest since Oct. 17, adding 89 points, or 5.2%, at 1,813.

* Average daily earnings for panamaxes.BPWT, which usually carries coal or grain cargoes of about 60,000 to 70,000 tonnes, increased from $797 to $16,314.

* Among smaller vessels, the supramax index.BSIS lost 6 points to 1,170.

* Dalian and Singapore iron ore futures fell, pressured by higher shipments, weak steel demand in the traditional peak construction season and lingering concerns about government intervention.


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Source: XM


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