<\/p>\n
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.<\/p>\n
<\/p>\n
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.<\/p>\n
<\/p>\n
The main index firmed 16.9% this week, its best since February 19.<\/p>\n
<\/p>\n
The capesize index gained 115 points, or 2.8%, to 4,192 – its highest since October 6, 2020.<\/p>\n
<\/p>\n
The index added 21.9% for the week, its best since March 5 and marking a fourth straight week of gains.<\/p>\n
<\/p>\n
Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes of coal and steel-making ingredient iron ore, were up $954 at $34,762.<\/p>\n
<\/p>\n
Iron ore futures advanced in Asia on Friday, on course for a fifth straight week of gains, as anti-pollution steel output curbs in top producer China and strengthening global steel demand propelled prices to record highs.<\/p>\n
<\/p>\n
The panamax index dipped 56 points, or 2.1%, to 2,630.<\/p>\n
<\/p>\n
The index, however, added 12.1% this week.<\/p>\n
<\/p>\n
Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonnes to 70,00 tonnes, were down $509 at $23,667.<\/p>\n
<\/p>\n
The supramax index rose 48 points to 2,085 and gained 12.8% this week.<\/p>\n
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<\/p>\n
<\/p>\n
(Reporting by Bharat Govind Gautam; Editing by Aditya Soni)<\/em><\/p>\n maritime professional<\/p>\n","protected":false},"excerpt":{"rendered":" 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 …<\/p>\n","protected":false},"author":1,"featured_media":27018,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[64],"tags":[1559,2479,3172,2231,1561,1560,15318,1366],"class_list":["post-27017","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-maritime-news","tag-baltic","tag-biggest","tag-books","tag-dry","tag-gain","tag-index","tag-midfebruary","tag-weekly"],"_links":{"self":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts\/27017","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/comments?post=27017"}],"version-history":[{"count":0,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts\/27017\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/media\/27018"}],"wp:attachment":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/media?parent=27017"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/categories?post=27017"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/tags?post=27017"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}