News

Baltic index hits four-week high on capesize gains

Baltic-index-hits-fourweek-high-on-capesize-gains-10669.jpg      The Baltic Exchange’s main sea freight index rose to a four-week high on Tuesday, boosted by gains in the capesize segment, while panamax fell for a fourth straight session.


The Baltic Exchange’s main sea freight index rose to a four-week high on Tuesday, boosted by gains in the capesize segment, while panamax fell for a fourth straight session.

The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, was up 48 points, or 2.04%, at 2,404 points, its highest since March 29.

The capesize index gained 166 points, or 8.3%, to 2,169 points, the highest in more than a month.

Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were up $1,382 at $17,991.

Chinese stainless steel futures fell for a second straight session on Tuesday, following a big drop in the prices of its raw material nickel, while poor downstream consumption due to the COVID-19 situation also dented sentiment.

The panamax index was down 48 points, or 1.6%, at 2,919 points.

Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, decreased $430 to $26,273.

Jordan’s state grain buyer made no purchase in an international tender for 120,000 tonnes of animal feed barley which closed on Tuesday, European traders said.

The supramax index rose 15 points to 2,714 points.
Source: Reuters (Reporting by Roshan Abraham in Bengaluru; Editing by Devika Syamnath)

Orther News
Member
Hi Guest | IP: 64.209.142.52
Help Desk
Name:
Ms. Ngan - Bulk
HP:
+84919875077
Skype:
Name:
Mr. Trung - Project
HP:
+84916875077
Skype:
Links
Partners