The Baltic Dry Index, the Baltic Exchange’s leading dry bulk shipping index, was up yesterday due to increased demand for Capesize vessels.
The overall index, which takes into account rates for all types of vessels, including the smallest (Supramax), gained 48 points, or 2.04%, this week, to 2,404 points. This is the highest that it has been since March 29.
The capesize index was up 166 points (by 8.3 percent), to 2,169 points. Average daily earnings for these vessels, which carry 150,000-tonne cargoes such as iron ore and coal, fell by $1,3082, to $17,991.
In contrast, the Panamax index dropped a whopping 48 points to 2,919. Average daily earnings for these ships, which carry 60,000 – 70,000 tonne cargoes of coal or grain, fell by $430 to $26,272. In contrast, the Supramax index gained 15 points to 2,714.
Translation by Giles Foster