Marine Link
Tuesday, September 18, 2018

Panamax Props Up Baltic Index

Maritime Activity Reports, Inc.

August 20, 2018

© pingvin57 / Adobe Stock

© pingvin57 / Adobe Stock

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, nudged up on Monday as panamax rates rose for fifth straight session, offsetting weakness in capesizes.

The overall index, which factors in rates for capesize, panamax and supramax vessels, rose four points, or 0.2 percent, to 1,727 points.

The panamax index rose 21 points, or 1.4 percent, to 1,506 points.

Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, increased by $166 to $12,064.

The capesize index fell by 30 points, or 0.9 percent to its lowest in three weeks, at 3,424 points.

Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore and coal, fell $70 to $25,303.

The supramax index rose 6 points to 1,062 points.


Reporting by Arijit Bose in Bengaluru

Maritime Reporter Magazine Cover Sep 2018 - Maritime Port & Ship Security

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.

Subscribe
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