The Baltic Exchange’s dry bulk sea freight index saw notable gains over the past week, driven by robust rates across all vessel segments.
The overall index surged by 4.4%, reaching 2,203 points on Friday, its highest level since December 19. This marked an impressive 18% weekly increase.
Among the vessel categories, the capesize index experienced a significant boost, rising by 6.3% to reach a peak not seen in eleven weeks. This resulted in a substantial 26% increase for the week. Capesize vessels, known for transporting heavy cargo like iron ore and coal, saw their average daily earnings rise by $1,940 to $32,985.
Similarly, the panamax index, representing medium-sized vessels, climbed by 8% to its highest level in two months, with a 42-point gain. Average daily earnings for panamax vessels also saw an uptick, increasing by $379 to $15,509.
Smaller vessels, including the supramax category, also experienced positive momentum, reaching a two-month peak with a 6.6% weekly rise, totaling 10 points added to the index.
