empty
 
 

26.08.202613:35:35UTC+00Baltic Dry Index Extends Rally to Fifth Session

The Baltic Exchange’s dry bulk sea freight index rose 4.4% to 3,056 on Wednesday, extending its winning streak to a fifth consecutive session and reaching its highest level since August 10. The benchmark tracks charter rates for capesize, panamax and supramax vessels.

Capesize rates led the gains, with the sub-index jumping 6.3% to 5,033, also the strongest level since August 10. Average daily earnings for capesize vessels — which typically transport about 150,000 tons of iron ore and coal — increased by $2,706 to $42,148.

Iron ore futures also advanced as Typhoon Narra disrupted shipping routes in the South China Sea, tightening vessel availability and pushing freight costs higher.

The panamax index climbed 3.7% to 2,246, its highest reading since August 13, with average daily earnings up $717 to $20,213. The supramax index inched 0.1% higher to 1,644.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In August we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


Can't speak right now?
Ask your question in the chat.
Widget callback