Marine Link
Tuesday, January 23, 2018

Baltic Index Climbs to Three-month High

Maritime Activity Reports, Inc.

March 10, 2017

Handysize bulk carrier (Photo: © Pacific Basin)

Handysize bulk carrier (Photo: © Pacific Basin)

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, closed at its highest level in three months on Friday, supported by robust capesize rates.

The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, ended up 22 points or 2.07 percent at 1,086 points, a peak since Dec. 9.

The capesize index touched its highest level since Dec. 7, up 111 points, or 6.62 percent, at 1,789 points.

Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, rose $791 to $13,231, the highest since early December.

Freight rates for capesize vessels on key Asian routes are set to jump further next week on tight tonnage supply and buoyant cargo volumes, brokers said.

The panamax index fell marginally by nine points, or 0.74 percent, to 1,211 points.

Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, decreased $75 to $9,728.

Among smaller vessels, the supramax index rose two points to 874 points, while the handysize index climbed four points to 495 points.
(Reporting by Eileen Soreng in Bengaluru)
Maritime Reporter Magazine Cover Dec 2017 - The Great Ships of 2017

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