The Baltic Exchange's main dry bulk sea freight index extended its rally on Wednesday as robust demand and port congestion propelled the capesize index above 10,000 points for the first time in more than 13 years.The overall index, which factors in rates for capesize, panamax, supramax and handysize vessels, rose 238 points, or 4.4%, to 5,647, its highest since September 2008.
The Baltic Exchange's main dry bulk sea freight index extended its rally on Tuesday, rising about 5% to its highest in 13 years, steered by strong gains in capesize rates, and helped by demand for smaller vessels.The overall index, which factors in rates for capesize, panamax, supramax and handysize vessels, jumped 245 points, or 5.2%, to 4,962, its highest since September 2008.
The Baltic Exchange's main dry bulk sea freight index rose for a fourth straight session on Wednesday to a 12-year high, buoyed by higher rates across vessel segments.The overall index, which factors in rates for capesize, panamax, supramax and handysize vessels, rose 150 points, or 3.4%, to 4,560, its highest since November 2009.
Heading into the seasonally strongest part of the year, dry bulk owners have already enjoyed a very profitable year with the temporary factors helping the market stay strong expected to continue providing support into 2022, says shipping organization BIMCO.Demand drivers and freight ratesThe dry bulk shipping industry continues to enjoy a bumper year
China has switched from driving global demand for major commodities to being a drag on growth, with July's customs data confirming the weakening trend for imports of crude oil, iron ore and copper.The exception to the trend was coal, but the sharp gain in July's imports of the polluting fuel are more a result of China having to go the seaborne market because of domestic policies that curbed
Baltic Exchange's main sea freight index , tracking rates for ships carrying dry bulk commodities, hit a more than 11-year peak bolstered by firmer rates across vessel segments.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, was up 69 points, or 2.1%, at 3,324, its highest level since June 2010The capesize index edged up 34 points, or 0.9%, to 4,021.
A 2020 fire aboard a dive support vessel docked at a Larose, La. shipyard was able to start and spread without notice because no one was continually monitoring the vessel while fire detectors were shut off during repairs, the National Transportation Safety Board said in a report issued Tuesday.
The Baltic Exchange's main sea freight index on Monday drifted up to its highest since September 2010, as an uptick in rates for the larger capesize segment offset a drop in panamax vessel demand.The Baltic dry index, which tracks rates for capesize, panamax and supramax vessels ferrying dry bulk commodities, edged up 20 points, or 0.7%, to 2,808, a high since September 2010.
The Baltic Exchange's main sea freight index climbed on Friday to post its best weekly gain since mid-February thanks to higher demand for capesize vessels.The Baltic dry index, which tracks rates for capesize, panamax and supramax vessels ferrying dry bulk commodities, rose 38 points, or 1.4%, to 2,788, its highest since September 2010.The main index firmed 16.
The Baltic Exchange's main sea freight index surged to its highest in over a decade on Wednesday, powered by a jump in the larger capesize vessel segment on increasing iron ore shipments from Brazil.The Baltic dry index, which tracks rates for capesize, panamax and supramax vessel ferrying dry bulk commodities, jumped 238 points, or 9.6%, to 2,710, its highest since October 2010.
The Baltic Exchange's main sea freight index, which tracks rates for ships ferrying dry bulk commodities, rose to 1-1/2-year peak on Monday as demand improved across vessel segments.The Baltic dry index, which tracks rates for capesize, panamax and supramax vessels, added 47 points, or 2%, to 2,432, its highest level since September 2019.The capesize index gained 37 points, or 1.
A shipping company and chief officer have been convicted in Australia for dumping garbage near the Great Barrier Reef, the world's largest coral reef system.Following a prosecution by the Australian Maritime Safety Authority (AMSA), on February 26, 2021, the chief officer and operator of Liberian-flagged bulk carrier Iron Gate were fined and convicted in the Brisbane Magistrates Court for