Baltic Index logs best week in 13 on stronger panamax rates

LONDON : The Baltic Exchange’s Dry Bulk Sea Freight index, which tracks rates for ships carrying dry bulk commodities, rose on last Friday to log its best weekly gain since early March, buoyed by stronger panamax vessel rates.

The main index, which monitors rates for capesize, panamax and supramax shipping vessels, was up 7 points, or 0.4%, at 1,633. The index logged a weekly gain of about 15%, its best week in 13.

The capesize index lost 3 points, or 0.1%, to 2,842, snapping a seven-session winning streak, but ended the week nearly 25% higher.

Average daily earnings for capesize vessels, which typically transport 150,000-ton cargoes such as iron ore and coal, fell $20 to $23,572.

Iron ore futures prices rose to a one-week high and were set for weekly gains, buoyed by progress in Sino-U.S. talks and steady demand from top consumer China, although seasonally slow steel consumption capped gains.

The panamax index gained 35 points, or 2.9%, to 1,246. It logged a weekly gain of 8.2%, marking its best week since late April 2025.

Average daily earnings for panamax vessels, which usually carry 60,000-70,000 tons of coal or grain, were up $311 at $11,210.

Among smaller vessels, the supramax index was down 3 points, to 933 points, lowest since March 14. The index ended the week nearly 2% lower.

Source: Reuters