Marine Link
Tuesday, April 20, 2021

Panamax Vessel Demand Keeps Baltic Index Up

Maritime Activity Reports, Inc.

June 27, 2016

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Monday for a fourth straight session as higher demand propped up rates for panamax vessels.
The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was up 7 points, or 1.15 percent, at 616 points.
The capesize index rose 6 points, or 0.66 percent, to 919 points.
Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were up $39 at $6,491.
The panamax index rose 16 points, or 2.74 percent, to 601 points.
Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, rose $130 to $4,811.
Among smaller vessels, the supramax index rose 4 points to 587 points, while the handysize index rose 2 points to 331 points.
(Reporting By Nallur Sethuraman in Bengaluru)
Maritime Reporter E-News subscription

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

Subscribe for Maritime Reporter E-News