The Baltic Exchange’s dry bulk sea freight index, which tracks rates for ships carrying dry bulk commodities, rose on Thursday, supported by gains in larger vessel segments.
The index, which factors in rates for capesize, panamax and supramax shipping vessels, gained 32 points to 1,029 points.
The capesize index was up 114 points to 1,261 points.
Average daily earnings for capesize vessels, which typically transport 150,000-ton cargoes such as iron ore and coal, increased by $943 to $10,459.
Iron ore future prices were rangebound as market participants await more cues on the trading outlook in the new year after mixed signals in top consumer China clouded direction.
The panamax index edged up 12 points to 1,000 points.
Average daily earnings for panamax vessels, which usually carry 60,000-70,000 tons of coal or grain cargo, rose $117 to $9,005.
Among smaller vessels, the supramax index was down 24 points at 899 points, its lowest level since August 2023.
The Baltic index opened on Thursday for the first time after Dec. 24, 2024 due to post-Christmas and New Year holidays.
Source: Reuters
