Supply Chain Council of European Union | Scceu.org
Freight

Baltic index at over 1-month high on firm panamax, supramax demand

March 4 (Reuters) – The Baltic Exchange’s main sea freight index rose to its highest level in more than a month on Wednesday, helped by strong demand for panamax and supramax vessels, while the larger capesize segment dropped to a record low.

* The Baltic index, which tracks rates for capesize, panamax and supramax vessels that ferry dry bulk commodities, gained 13 points, or 2.4%, to 562, its highest since Jan. 23.

* The capesize index eased 7 points to -353, its lowest on record.

* Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes including iron ore and coal, rose by $33 to $2,230.

* The panamax index climbed 26 points, or 2.7%, to 961, registering its 20th straight session of gains.

* Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000-70,000 tonnes, gained $232 to $8,651.

* The supramax index rose 13 points to 646. (Reporting by Brijesh Patel in Bengaluru; Editing by Vinay Dwivedi)

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