Baltic Index posts Biggest Weekly Gain in four months on Capesize increase

LONDON : The Baltic Exchange’s main sea freight index, which measures rates for ships carrying dry bulk commodities, jumped on Friday, posting its biggest weekly gain in over four months, supported by a steady rise in capesize vessel rates.

The main index, which tracks rates for capesize, panamax and supramax shipping vessels, gained 22 points, or 1.1%, to 2,052 points, its highest level since September 30, 2024. The contract logged its highest weekly percentage gain since late February.

The capesize index rose 63 points, or 2.1%, to 3,084, hitting its highest level in a month. The contract gained over 43% for the week.

Average daily earnings for capesize vessels, which typically transport 150,000-ton cargoes such as iron ore and coal, increased $520 to $25,575.

Dalian iron ore futures climbed to their highest close in 4-1/2 months and logged a fourth consecutive weekly gain, as an upbeat demand outlook and hopes for further policy support from Beijing boosted market sentiment.

The panamax index fell 14 points, or 0.7%, to 1,919. However, the contract gained over 3% for the week.

Average daily earnings for panamax vessels, which usually carry 60,000-70,000 tons of coal or grain, lost $127 to $17,272.

Among smaller vessels, the supramax index added 11 points, or 0.8%, to 1,346.

Source: Reuters