panamax vessels

Baltic Dry decreased 406 points or 19.39% since the beginning of 2024

The Baltic Exchange's main sea freight index, a measure of global shipping costs, eased two points to 1,683 points on Wednesday, after an uptick in the previous session, as the supramax index shed 7 points at 1,478 points. Meanwhile, the capsize index, which typically transports 150,000-ton cargoes such as iron ore and coal, rose by 0.8% to 2,116 points, still hovering around three-month lows; and the panamax index, which usually carries about 60,000-70,000 tons of coal or grain cargo, added 2 points to 1,847 points. Forecast Baltic Dry decreased 406 points or 19.39% since the beginning of 2024, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Baltic Exchange Dry Index is expected to trade at 1770.77 points by the end of this quarter, according to Trading Economics global macro models and analysts’ expectations. Looking forward, we estimate it to trade at 2055.19 in 12 months’ time.

Continue ReadingBaltic Dry decreased 406 points or 19.39% since the beginning of 2024

Baltic index ticks down as capesize losses offset gains in smaller vessels

he Baltic Exchange’s dry bulk sea freight snapped a 12-session winning streak on Tuesday, as pressure from lower capesize rates outweighed gains in smaller vessel segments. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, was down 0.3% at 2,291 points. The capesize index snapped its nine-session rising streak, shedding 57 points, or 1.4%, to 4,148. Average daily earnings for capesize vessels, which typically transport 150,000-ton cargoes such as iron ore and coal, decreased by $471 to $34,402. Iron ore futures prices were mixed, as investors digested a raft of key economic targets set by policymakers in top consumer China’s annual meeting of the National People’s Congress. The panamax index added 32 points, or 1.8%, to 1,805 points, its highest level since Jan. 3. Average daily earnings for panamax vessels, which usually carry about 60,000-70,000 tons of coal or grain cargo, were up $281 at $16,242. Among smaller vessels, the supramax index, extended gains, adding 15 points, or 1.2%, to 1,297 points. It rose for a fifteenth straight session. Chinese importers are believed to have purchased at least 65,000 metric tons of animal…

Continue ReadingBaltic index ticks down as capesize losses offset gains in smaller vessels