10-10-2017

Baltic index inches up as panamax vessel rates stay firm

The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk commodities, ended slightly higher on Monday as rates for panamax vessels stayed firm amid a fall in capesize vessel rates.

The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was up 6 points, or 0.43 percent, at 1,411 points.

The capesize index fell 23 points, or 0.79 percent, to close at 2,906 points.

Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were down $170 at $20,257.

The panamax index finished up 32 points, or 2.28 percent, at 1,438 points.

Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, rose $255 to $11,555.

Among smaller vessels, the supramax index rose 7 points to end at 978 points, while the handysize index rose 3 points to close at 613 points.

Source: Reuters

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