Baltic Index Down On Relatively Weaker Vessel Demands

Per Reuters, Baltic Exchange’s primary sea freight index reportedly posted its greatest monthly percentage gains in five months, supported by higher rates across the vessel segments.

The index that factors in rates for panamax, capesize, and supramax shipping vessels increased by 55 points or 5.9% to 990.

The main index was up from 45.4% for the month, the most since 2022 (September).

The capesize index increased by 28 points or approximately 4% to 729 marking the seventh session of gains.

It has gone up 37% for the month. The average day-to-day earnings for capesizes that typically transports about 150,000 tons of cargoes like coal and iron ore secured $227 at about $6,042.

The panamax index, up for the sixth straight session, secured 7.9% at 104 points, at 1,421.

The index went up to 35.1% for the whole month, marking its highest monthly percentage gain in five.

The average day-to-day earnings for panamaxes, which typically carry grain or coal cargoes of approximately 60,000 to 70,000 tons, were up $932 at $12,785. Among the relatively smaller vessels, the supramax index went up by 55 points to 1,105.

References: XM

Disclaimer :
The information contained in this website is for general information purposes only. While we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.

In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.

Latest Shipping News You Would Like:

U.S Navy And The Philippines Begin Joint Naval Drills In South China Sea Amidst Tensions With China

Posted on October 3, 2023

In a show of force against China amid ever growing tensions in the much-disputed waterway, defense allies the Philippines and the US started conducting combined naval activities on Monday.

Captain Of Cargo Ship Carrying €157million Worth Of Cocaine Appears In Wexford Court

Posted on October 3, 2023

The ship captain of the MV Matthew got a bail rejection after he appeared at the court on being charged over the €157 million cocaine seizure off the country’s south coast.

Indian Navy’s First Training Squadron Warships Arrive At Port Klang, Malaysia

Posted on October 3, 2023

As part of the Indian Navy’s log-range deployment in Southeast Asia, the vessels of the First Training Squadron (1TS)-ICGS Sarathi, INS Tir, and INS Sujata are visiting Malaysia’s Port Klang.

Environmental Groups Demand Rules To Protect The North Atlantic Right Whale From Ship Collisions

Posted on October 3, 2023

A coalition of environmental groups has been calling on the country’s federal government to have in place emergency rules to safeguard a fast-vanishing species of whale from collisions with large vessels.

U.S Navy And Lockheed Martin Fire Submarine-Launched Ballistic Missile With A 4000 NM Range

Posted on October 3, 2023

The Fleet Ballistic Missile — One Trident II D5 Life Extension, was successfully launched on 27 September by Lockheed Martin and the U.S. Navy, off the coast of California.