Ocnus.Net
News Before It's News
About us | Ocnus? |

Front Page 
 
 Africa
 
 Analyses
 
 Business
 
 Dark Side
 
 Defence & Arms
 
 Dysfunctions
 
 Editorial
 
 International
 
 Labour
 
 Light Side
 
 Research
Search

Business Last Updated: Sep 14, 2017 - 10:15:45 AM


Baltic Dry Index Near 3-Year High
By Reuters, September 11, 2017
Sep 13, 2017 - 1:27:17 PM

Email this article
 Printer friendly page

The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk commodities, touched a near three-year high on Monday, supported by higher rates across all vessel segments.

The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, gained 23 points, or 1.73 percent, at 1,355 points – the highest since Nov. 2014.

“The market has been solely driven forward by the capesize shipping segment this year. Only recently have we seen panamax and handysize climb to profitable freight rates,” said Peter Sand, Chief Shipping Analyst at industry lobby group BIMCO.

“But it all originates from various solid Chinese demand, mainly imports of coal and iron ore.”

Iron ore shipments account for around a third of seaborne volumes on the larger capesizes.

The capesize index climbed 46 points, or 1.66 percent, to 2,813 points, the strongest level for the index since Nov. 2014.

“Capsize dry bulkers have maintained momentum through the weekend with assessed earnings touching a new multi-year high,” Clarksons Platou Securities analysts said in a note.

Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were up $488 to $20,831, a peak since Nov. 2014.

The panamax index was up 19 points, or 1.38 percent, at 1,394 points.

Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, increased $155 to $11,192.

Among smaller vessels, the supramax index rose 10 points to 898 points, while the handysize index rose 5 points to 509 points.


Source:Ocnus.net 2017

Top of Page

Business
Latest Headlines
Trump Targets North Korea Shipping and Trade with Expanded Sanctions
US Needs More Tankers, Transports Since Russia & China Can Shoot Them Down
Tanzania orders wall built around tanzanite mines to end illegal trade
ThyssenKrupp, Tata to merge European steel operations
Foray into Down Under
The Russian Federation will supply the People's Republic of China with gas for 30 years starting from 2019
Gaza's clothing makers look to weave their way back into Israeli markets
US-Regierung droht China mit Ausschluss aus SWIFT-System
Berlin Calls for a "One-Europe" Policy
Baltic Dry Index Near 3-Year High