Baltic Index Rises as Capesize Rates Jump

Maritime Activity Reports, Inc.

October 12, 2018

© Cliff / Adobe Stock

© Cliff / Adobe Stock

The Baltic Exchange's main sea freight index, tracking rates for ships ferrying dry bulk commodities, rose on Friday, helped by strong demand for capesize vessels.

* The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, gained 64 points, or 4.2 percent, to 1,579 points.

* The capesize index marked its highest daily percentage gain since July 12 rising 8.2 percent, or 164 points, to 2,169 points.

* Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore and coal, were up $1,541 at $18,746.

* The panamax index rose 12 points or 0.7 percent to 1,775 points.

* Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, increased $94 to $14,227.

* The supramax index fell 3 points to 1,204 points.

Reporting by Harshith Aranya in Bengaluru

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