Baltic Index Rises to Over 20-wk High

Maritime Activity Reports, Inc.

May 11, 2018

© / Adobe Stock

© / Adobe Stock

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Friday as rates for capesize vessels climbed to four-month highs.

* The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, was up 19 points, or 1.3 percent, at 1,472 points, its highest since Dec. 20.

* The index was up about 6.4 percent for the week, its biggest gain in three weeks.

* The capesize index rose 65 points, or 2.5 percent, to 2,630 points, its highest in four months, and was up over 12.5 percent for the week.

* Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore and coal, were up $494 at $20,684.

* The panamax index was down 1 point, or about 0.1 percent, at 1,245 points.

* Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, were unchanged at $10,034.

* The supramax index rose 1 point to 1,053 points.

Reporting by Nithin Prasad in Bengaluru; Editing by Maju Samuel

Maritime Reporter Magazine Cover Dec 2018 - Great Ships of 2018

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Maritime Reporter E-News subscription

Maritime Reporter E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News