Baltic Index Ticks Down as Panamax Losses Outweigh Capesize Gains
The Baltic Exchange's main sea freight index edged down on Wednesday, as panamax rates hit a three-week low, offsetting a rise in capesize vessel rates.The overall index, which factors in rates for capesize, panamax, and supramax shipping vessels, edged down by 2 points to 1,778.The capesize index added 28 points, or about 1%, to 2,801 - its highest level in more than a year.Average daily earnings for capesize vessels which typically transport 150,000-tonne cargoes carrying commodities such as iron ore and coal…
Baltic Index Hits Over 11-month peak on Capesize Strength
The Baltic Exchange's main dry bulk sea freight index rose to its highest in over 11-month on Tuesday, steered by robust demand in the capesize vessel segment.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, extended gains by rising 43 points, or 2.5%, to 1,780 - its highest level since Oct. 24, 2022.The capesize index, scaled an over 9-month peak, adding 163 points, or 6.3%, to 2,773.Average daily earnings for capesize vessels , which typically transports 150…
Baltic Dry Index Rises to Over Four-month High
The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, rose to its highest since mid-May on Monday, supported by gains in the capesize vessel segment.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, rose 21 points, or 1.3% to 1,614, its highest level since May 10.The capesize index added 65 points, or 3.1% to 2,148, its highest level in over four months.Average daily earnings for capesize vessels…
Dual-fuel Newcastlemax Vessel Delivered to Himalaya Shipping
Himalaya Shipping announced it has taken delivery of the sixth in a series of 12 newbuild 210,000 dwt Newcastlemax dual fuel bulk carriers the company has on order from New Times Shipyard.The vessel, Mount Neblina, will commence a minimum 24-month time charter with an evergreen structure thereafter and will earn an index-linked rate, reflecting a significant premium to a standard Capesize vessel, Himalaya Shipping said. The time charter also includes a profit sharing of any economic benefit derived from operating the vessel's scrubber or running on liquefied natural gas (LNG)…
Baltic Dry Index Down as Capesize Vessel Rates Fall
The Baltic Exchange's main sea freight index fell for a second straight session on Monday, weighed down by a dip in capesize vessel rates.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels carrying dry bulk commodities, fell 14 points to 1,223.The capesize index fell 60 points, or 3.8%, to 1,538, its lowest in nearly four weeks.Average daily earnings for capesize vessels, which typically transport 150,000-tonne cargoes carrying commodities such as iron ore and coal, fell $503 to $12,752.The panamax index slipped 1 point to 1,541, snapping its 18-day w
Baltic Dry Index Hits Over One-month High on Gains Across Vessel Segments
The Baltic Exchange's main sea freight index rose to a more than one-month high on Wednesday, helped mostly by steady gains in rates for the panamax and capesize vessel segments.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels carrying dry bulk commodities, rose 67 points, or 5.8%, to 1,233.The capesize index gained 104 points, or 6.5%, to 1,701.Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes carrying commodities such as iron ore and coal, increased by $862 to $14,106.The panamax index gained 74 points, or 5.2%,
Gains in Panamax Vessel Rates Lift Baltic Dry Index
The Baltic Exchange's main sea freight index edged up on Monday as rates for the panamax segment, ferrying coal and grain cargoes, hit a more than three-month high that also helped offset a dip in the larger capesize vessel segment.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels ferrying dry bulk commodities, edged up by 6 points to 1,135.The panamax index extended its winning streak to a 14th straight session to gain 28 points, or 2.1%, to 1,365.
Newcastlemax Bulker Delivered to Himalaya Shipping
Dry bulk shipping company Himalaya Shipping announced it has taken delivery of the fifth in a series of 12 dual-fuel 210,000 dwt Newcastlemax bulk carriers being built by New Times Shipyard.The vessel, Mount Matterhorn, will commence a 32- to 38-month time charter plus an option for 11 to 13 months and will earn an index-linked rate, reflecting a significant premium to a standard Capesize vessel, Himalaya said. The time charter also includes a profit sharing of any economic benefit derived from operating the vessel's scrubber or running on liquefied natural gas (LNG)…
Baltic Dry Index Logs Third Straight Monthly Rise
The Baltic Exchange's main sea freight index slipped on Friday, but posted its third straight monthly gain, supported by increasing demand for the capesize vessel segment.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, fell 5 points to 1,576. The index was, however, up 13.5% for the month, as well as registered a weekly rise.The capesize index rose 25 points, or about 1.1%, to 2,301, its highest level since late December.The index gained 38.2% for the month.
Baltic Dry Index Gains as Capesize Rates Rebound
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Thursday buoyed by a rebound in rates of the larger capesize vessel segment.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, gained 28 points, or about 1.9%, to 1,484 - its biggest daily percentage rise since March 14.The capesize index added 104 points, or about 5.9%, to 1,856.Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes carrying commodities such as iron ore and coal, increased $868 to $15,396.2Mean
Baltic Dry Index Ticks Up on Capesize Jump
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, edged up on Monday as rates for the larger capesize vessel segment rebounded.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, gained 7 points, to 1,542.
Mount Ita Bulk Carrier Joins Himalaya Shipping Fleet
Bulk carrier company Himalaya Shipping has taken delivery of the second of the twelve 210,000 dwt Newcastlemax newbuildings the company has on order at New Times Shipyard. The vessel, named Mount Ita, will start a 32 - 38 month time charter plus option for 11- 13 months and will earn an index-linked rate, reflecting a significant premium to a standard Capesize vessel, Himalaya Shipping said.Himalaya Shipping further said that the time charters also included a profit sharing of any economic benefit derived from operating the vessel´s scrubber or running on LNG…
Anglo American's First LNG Dual-fuel Bulk Carrier Enters Service
Mining company Anglo American announced that its newly launched liquefied natural gas (LNG) dual-fueled Capesize+ vessel, the Ubuntu Harmony, has loaded its first cargo of iron ore from its Kumba operations in South Africa.The 190,000 tonne bulk carrier, flagged in Singapore, is the first of 10 LNG dual-fueled newbuilds that Anglo American will introduce to its chartered fleet during the course of 2023 and 2024, delivering an estimated 35% reduction in CO2 emissions compared to ships fueled by conventional marine oil fuel.
Diana Shipping Sells 2005-built Bulker for $15 Million
Dry bulk shipowner Diana Shipping on Wednesday announced it has signed a memorandum of agreement to sell one of its older vessels.Diana said it sold the 2005-built Capesize vessel Aliki to an unnamed, unaffiliated third party for a sale price of $15.08 million before commissions.Delivery to the buyer is expected to take place by February 28, 2023.
Baltic Index Hits One-week High on Capesize Gains
The Baltic Exchange's dry bulk sea freight index touched a one-week high on Tuesday, supported by gains in the capesize vessel segment.The overall index, which factors in rates for capesize, panamax, and supramax shipping vessels carrying dry bulk commodities, added 19 points, or about 1.4%, to 1,356, the highest level since Nov. 1. The capesize index rose 89 points, or about 6.3%, to 1,493, the highest level since Oct. 31. Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as coal and steel-making ingredient iron ore, were up $731 at $12,379.
Capesize Dip Drags Baltic Dry Index Lower
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, edged down on Tuesday pressured by a dip in rates for the larger capesize vessel segment.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, fell 6 points, or about 0.3%, to 1,807.Even after an improvement in both basins (Atlantic and Pacific) last week for the capesize segment, "there is still a sense of lack in direction appearing in the overall market for the time being"…
Baltic Dry Index On the Rise
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, edged up on Wednesday as capesize and supramax vessel segments gained.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, was up 17 points, or about 1%, at 1,746, in its second day of gains after Tuesday's 11.3% jump."The recent weather disruption in Asia supported owners’ sentiment which coupled with the strong grain stems out of both the ECSA and NCSA (east coast and north coast, South America) led to w-o-w improvements across all sectors," ship bro
Baltic Dry Index Logs Best Week in Seven Months
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, marked its best week in over seven months, largely driven by a 126% weekly gain in the capesize vessel segment.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, recorded its third weekly gain of about 28%, highest since mid-February.However, the dry index snapped its seven-day long gaining streak, losing 59 points, or about 3.7%, on its worst day in over two weeks…
Seanergy Acquires Secondhand Capesize Bulker
Seanergy Maritime Holdings Corp. announced Thursday it has agreed to acquire a secondhand bulk carrier from a Japanese owner.The 180,000 dwt Capesize vessel, to be renamed Honorship, was built at a Japanese shipyard in 2010.It is expected to be delivered within June 2022 and will promptly begin operating on a 20-24-month charter to with NYK Lines at an index-linked rate at a significant premium over the Baltic Capesize Index, Seanergy said.Seanergy said it has the option to convert the daily hire from index-linked to fixed for a minimum period of two months to a maximum of 12 months based on the same premium over the prevailing Capesize Freight Futures Agreements (FFA) curve.Stamatis Tsantanis…
Capesize Strength Propels Baltic Dry Index to Fifth Straight Weekly Gain
The Baltic Exchange's main sea freight index slipped on Friday, but registered its fifth consecutive weekly rise bolstered by gains in the capesize vessel segment.The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, fell 13 points, or 0.4%, at 3,104 points on Friday. It was up 14.2% this week.The capesize index fell 18 points, or about 0.5%, at 3,947 points, but rose 36.4%, also logging its fifth consecutive weekly gain.Average daily earnings for capesizes…
Dry Bulk: Capesize Rates Hit Lowest in Seven Months
The Baltic Exchange's dry bulk sea freight index declined on Wednesday, pressured by lower rates across the capesize vessel segment, recording its lowest level since June.The overall index, which factors in rates for capesize, panamax and supramax vessels, lost 65 points, or 2.8%, to 2,229, its lowest since April 14Rates for the vessels have further eroded into the current week ahead of the holidays, shipbroker Intermodal said in a weekly note dated Tuesday.The capesize index fell 208 points, or 7.8%, to its lowest since June 8 at 2,455.Average daily earnings for capesizes, which transport 150
Baltic Dry Index Records First Weekly Gain in Five
The Baltic Exchange's dry bulk sea freight index eased on Friday, but posted its first weekly rise in five weeks, helped by stronger rates for the larger capesize vessel segment.The overall index, which factors in rates for capesize, panamax and supramax vessels, was down 37 points, or 1.3%, at 2,807.The main index gained 3.4% for the week.The capesize index eased 36 points, or 0.9%, to 3,836, snapping a five-session winning streak. However, it saw a weekly gain of 17%.Average daily earnings for capesizes…
Baltic Dry Index Snaps 11-session Rally
The Baltic Exchange's main dry bulk sea freight index fell on Wednesday, halting a 11-session rally that saw it scale its highest level in over a decade, as the larger capesize vessel segment retreated.The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, fell 8 points to 4,193.The main index hit its highest level since mid-2010 on Monday, in a rally that analysts attributed to an overall rebound in commodities demand and global…