Sea Freight Surges, Defying Expectations!

Credit: Tom Fisk/Pexels

The Baltic Exchange’s main sea freight index rose for the third consecutive session, reaching a one-week high of 1,032 points. The panamax index, tracking ships carrying coal or grain cargoes of 60,000 to 70,000 tonnes, experienced its best day in five weeks, surging 3.1% to 1,027 points. The supramax index broke a six-session losing streak, gaining 0.6% to reach 728 points. On the other hand, the capesize index, which monitors vessels transporting 150,000-tonne cargoes like iron ore and coal, declined slightly by 0.3% to 1,550 points, ending a three-day winning streak.

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Source: Trading Economics


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