The Baltic Exchange’s dry bulk maritime freight index, which measures rates of vessels carrying dry bulk commodities, rose for the second consecutive session on Friday, driven by strong gains in the capesize vessel segment.
The index, which takes into account rates for capesize, Panamax and supramax shipping vessels, rose 79 points to 1,048 points. However, it fell 2.2% for the week.
The capesize index (.BACI) rose 284 points to 1,448 points, the highest level since December 10, 2024. The index rose around 5.3% this week.
Average daily earnings for capesize vessels (.BATCA), which typically carry 150,000 tonnes of cargo such as iron ore and coal, increased by $2,357 to $12,010.
Iron ore futures rose slightly, helped by expanding stimulus from top consumer China, but ended the week lower on weakening seasonal demand for the key steelmaking ingredient.
The Panamax Index (.BPNI) fell 39 points to 953 points, its lowest level since July 2023, while recording its biggest weekly decline since November 18, 2024.
Average daily earnings for Panamax vessels (.BPWT), which typically carry 60,000-70,000 tons of coal or grain, fell $357 to $8,574.
The supramax index (.BSIS) fell 11 points to 830 points and posted its 13th straight weekly loss.
Source: Reuters
