Marine Link
Saturday, July 21, 2018

Baltic Index Advances with Rising Cry Commodity Vessel Demand

Maritime Activity Reports, Inc.

March 19, 2015

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, was lifted on Thursday by higher demand across all vessel segments.
The index, which factors in the average daily earnings of capesize, panamax, supramax and handysize dry bulk transport vessels, was up 13 points, or 2.28 percent, at 584 points.
"The spot dry bulk market is in line for a positive jolt as three key pieces have lined up positively for the first time in several months: rising steel prices, wider steel margins and cheaper imported iron ore into China," said Omar Nokta of Clarkson Capital Markets.
The panamax index rose nine points, or 1.49 percent, to 613 points.
Average daily earnings for panamaxes, which usually carry 60,000 to 70,000-tonne cargoes of coal or grains, increased by $76 to $4,913.
The capesize index surged 50 points, or 14.01 percent, to 407 points.
Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, fell $255 to $4,048.
The indexes for the relatively smaller vessels -- handysize and supramax were up five points at 383 points and four points at 627 points respectively.
(Reporting by Anupam Chatterjee in Bengaluru; Editing by Greg Mahlich)
Maritime Reporter Magazine Cover Jul 2018 - Marine Communications Edition

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