Baltic Index Ticks Up On Firm Demand For Larger Vessels

Credits: Nathan Cima/ Unsplash

The Baltic Exchange’s main sea freight index .BADI edged up on Wednesday on higher rates for capesize and panamax vessel segments, says an article published on XM.

Overall index

  • The overall index, which factors in rates for capesize, panamax and supramax shipping vessels carrying dry bulk commodities, gained 5 points to 1,407
  • The capesize index .BACI was up 16 points, or about 1%, to 1,662.
  • Average daily earnings for capesizes .BATCA, which typically transport 150,000-tonne cargoes for commodities such as iron ore and coal, increased $133 to $13,788.
  • Dalian iron ore futures extended gains to a third straight session on prospects of tighter supply of the steel-making ingredient and optimism over steel demand in China. IRONORE/
  • The panamax index .BPNI snapped a losing streak of nine sessions, adding 37 points, or about 2.4%, to 1,598.
  • Average daily earnings for panamaxes .BPWT, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, increased $335 to $14,386.
  • Among smaller vessels, the supramax index .BSIS fell 30 points to 1,285.

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Source: XM


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