Baltic Index Surges on Capesize Power

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Credits: RANJITH AR/ Pexels

The Baltic Exchange’s main sea freight index.BADI, tracking rates for ships carrying dry bulk commodities, rose to a nearly four-week high on Wednesday, supported by strong demand for capesize vessels.

* The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, gained 60 points, or about 5.6%, to 1,138, its highest since May 26.

* The capesize index.BACI jumped 190 points, or 12.3%, to 1,730.

* Average daily earnings for capesize vessels.BATCA, which typically transports 150,000-tonne cargoes carrying commodities such as iron ore and coal, increased by $1,581 to $14,350.

* The panamax index.BPNI slipped 17 points, or about 1.5%, to 1,157.

* Average daily earnings for panamax vessels.BPWT, which usually carries about 60,000 to 70,000 tonnes of coal or grain cargoes, decreased by $151 to $10,417.

* Among smaller vessels, the supramax index.BSIS edged two points higher to 761.

 

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Source: XMZA

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