rss icon Subscribe
desktop mobile

Robust Capesize Vessel Rates Buoy Baltic Index

File photo: Star Bulk

Posted by Michelle Howard

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose for the 14th straight session on Monday as capesize rates strengthened.

The overall index, which also factors in rates for panamax, supramax and handysize shipping vessels, climbed 9 points, or 0.75 percent, to end at 1,205 points, its highest since Nov. 23.

However, the index had gained at least 1 percent in the previous 13 sessions.

The capesize index gained 53 points, or 2.2 percent, to finish at 2,466 points.

Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, touched a four-month peak, rising $317 to $18,080.

The panamax index closed down 5 points, or 0.45 percent, at 1,103 points.

Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, fell $39 to $8,875.

Among smaller vessels, the supramax index rose 5 points to finish at 884 points, while the handysize index gained 2 points to close at 510 points.
(Reporting by Eileen Soreng in Bengaluru)

Mar 20, 2017

 

Bulk Carrier Trends

Case Study: Surveying the Hennepin Wreck in Lake Michigan

Klein System 3000

Klein’s multipurpose System 3000 is a simultaneous, dual-frequency side scan sonar that can be

Bahri Reinforces Americas Commitment

(Photo: Bahri)

Reinforcing its three-decade-long presence in North America, transportation and logistics firm

BBC Chartering, Jumbo Shipping Team Up in Global Project Alliance

Photo: BBC Chartering

Two market leaders in their respective fields, Jumbo and BBC Chartering have agreed to an

Logistics

Bahri Reinforces Americas Commitment

Reinforcing its three-decade-long presence in North America, transportation and logistics firm Bahri took part in Breakbulk Americas, being held from October 17-19, in Houston.

BBC Chartering, Jumbo Shipping Team Up in Global Project Alliance

Two market leaders in their respective fields, Jumbo and BBC Chartering have agreed to an exclusive strategic co-operation; the “GLOBAL PROJECT ALLIANCE”, effective immediately.

Cautious Optimism on Multipurpose Shipping: Drewry

Graph:  Drewry Shipping Consultants Limited

Recovering demand for multipurpose shipping combined with improved market conditions for

Maritime Apps