Photo: Perry Quan / CC BY-SA 2.0
The Baltic Exchange’s main dry-bulk freight index rose 4.02% on Wednesday, rebounding from a more-than-two-week low as rates for larger cargo ships improved.
The index gained 104 points to 2,694, Reuters reported. Stronger Capesize and Panamax rates drove the recovery, while smaller Supramax vessels continued to weaken.
For businesses moving bulk commodities by sea, the split matters: a rise in the headline index does not mean every vessel type or shipping route is getting more expensive.
Large ships lead the rebound
The Capesize index climbed 7.22% to 4,097. Average daily earnings for those vessels rose by $2,511 to $33,659, according to the report.
The Panamax index ended a 15-session losing streak, rising 1.50% to 1,894. Average daily earnings increased by $258 to $17,049.
The Supramax index fell 0.60% to 1,835, its lowest level since October 13. The figures track different parts of the dry-bulk shipping market, rather than the price of sending a consumer parcel or a container of retail goods.
JBizNews Desk | London
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