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Baltic index rose in 7th week in line with high demands

by Bunkerist
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The sea freight index of the Baltic Stock Exchange has been on the rise for 7 weeks in line with the demands for all ship segments.

The Baltic dry index, which tracks rates for ships ferrying dry bulk commodities and reflects rates for capesize, panamax and supramax vessels, rose 1,823, its highest since Oct. 17.

The index has increased by 73.8% so far this year. This has increased due to the easing of coronavirus-induced deadlocks in industrial activities and the recovery in iron ore demand from China.

The Baltic capesize index rose 176 points to 4.440.

Meanwhile, the average daily earnings of capesize ships carrying dry cargo, such as iron ore and coal, with a cargo capacity of 170,000 tons to 180,000 tons increased.

Panamax index increased by 59 points to 1.316.

The Supramax index rose 8 points to 701.

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