Baltic Freight Index up on Higher Dry Bulk Activity

MarineLink.com
Monday, March 10, 2014

Reuters - The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, rose on Monday.

The overall index, which factors in the average daily earnings of capesize, panamax, supramax and handysize dry bulk transport vessels, rose 19 points to 1,562.

The Baltic's capesize index rose 43 points or 1.4 percent to 3,023 points.

Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were up $505 at $24,748.

The panamax index increased 13 points, or 1.2 percent, to 1,088 points.

Average daily earnings for panamaxes, which usually carry 60,000- to 70,000-tonne cargoes of coal or grains, were up $106 at $8,757.

"Thin vessel availability in the Atlantic and high activity for iron ore in the Pacific helped spur higher (capesize) rates," RS Platou Markets said in a report.

"The clamp down on pollution in China is positive for the dry bulk market as domestic iron ore production is highly pollutive, supporting imports of high quality fines."

(Reporting by NR Sethuraman in Bangalore; Editing by Anthony Barker)

Maritime Reporter February 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Bulk Carrier Trends

Golden Ocean, Knightsbridge Set for Merger

Dry bulk shipping companies Golden Ocean Group Limited (GOGL) and the listed dry bulk shipping company in John Fredriksen's business empire Knightsbridge Shipping

Mitsubishi Bags Fourth LPG Carrier Order from Astomos

Tokyo-based Astomos Energy Corp has placed an order today with Mitsubishi Heavy Industries (MHI) for a very large liquefied petroleum gas (LPG) carrier.     The 83,

ClassNK's Structural Rules for Bulkers & Tankers

The Nippon Kaiji Kyokai (ClassNK) has announced the establishment of its “Common Structural Rules for Bulk Carriers and Oil Tanker” (Rules for the Survey and

News

Canadian Navy Delays Opening of Arctic facility

Canada's military has again delayed the opening of a major new Arctic port, a sign the government is struggling to assert sovereignty over a remote resource-rich region.

Nabors Posts Quarterly Loss as Drilling Activity Slows

Offshore driller Nabors Industries Ltd reported a quarterly loss, hurt by lower drilling activity amid a slump in global crude prices.   The company posted a net loss of $891.

Mariner Medevaced in Alaska

An ailing mariner was medevaced from a fishing vessel in Beaver Inlet, approximately 13 miles southeast of Dutch Harbor, Sunday, the U.S. Coast Guard reported.   The

Logistics

Crowley Ships Massive Electrical Equipment

Crowley Maritime Corporation’s liner services group recently transported two massive electrical equipment enclosures with a combined weight of 196,000 pounds to San Juan, Puerto Rico.

Port Conference Comes to Hamburg

This year’s IAPH World Ports Conference will be held in Hamburg from June 1-5.   International representatives from business, politics and science will gather

Johan Sverdrup Contract to "Pioneering Spirit"

Statoil has signed a contract with Allseas for installation of three platform topsides on the Johan Sverdrup field.   The vessel will be installing the topsides for the drilling,

 
 
Maritime Contracts Maritime Security Naval Architecture Navigation Offshore Oil Pod Propulsion Ship Repair Ship Simulators Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.2309 sec (4 req/sec)