After a slow beginning to the week, the Capesize market experienced a surge on Wednesday with a rise of over $2,500 in a day on its five timecharter routes average. The week closed at $15,180 with +$3,222 week-on-week. Both fronthaul and trans-Atlantic business were particularly active whilst tonnage in the Atlantic tightened. Solid volume lent support and made the North Atlantic the strongest sector of the week. By Friday, vessels delivered in the...
Baltic Panamax Index
Baltic Index Slips from 5-month High
The Baltic Exchange’s main sea freight index drifted lower on Thursday, slipping from 5-month high, reports Yahoo Finance.
Baltic index driftThe Baltic Exchange’s main sea freight index drifted lower on Thursday, having gained in the last seven sessions to hit a high since October, as rates eased for the capesize and panamax vessel segments.
The Baltic dry index, which tracks rates for capesize, panamax and supramax vessels ferrying dry bulk commodities, slipped by 10 points, or 0.5%, to 1,970,...
Baltic Index Slips by 4.6%
The Baltic Exchange’s main sea freight index that tracks rates for ships carrying dry bulk commodities, fell for a ninth consecutive session on Monday, reports Reuters.
What is the reason?Baltic index slips for 9th session driven by lower rates for capesize and panamax vessels.
The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was down 68 points, or 4.6%, at 1,409 points, its lowest since Sept. 22.
Capesize index
- The capesize index shed 187...
Panamax Vessel Rates Surge to 6-week High
The global Panamax dry bulk vessel index has surged more than 60% over the past month – reaching a six-week high – due to renewed vessel demand following the Chinese New Year holidays, says an article published by Montel News.
Reasons Behind This- The Baltic Panamax Index (BPI), which tracks rates for the 60,000-80,000 deadweight tonne segment, was assessed last at 900 points.
- It has rebounded from its early-February low of 552 points, a level not seen since June 2016.
- “Sentiment is now...
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