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.