Baltic index hits one-week high up on strong capesize rates
The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, inched upwards on Wednesday, reaching a oneweek peak due to rising rates in capesize vessel sector.
* The total index, which consider rates for capesize, panamax and supramax shipping vessels, climbed up 11 points, or 0.61%, to 1,801.
* The capesize index got 76 points, or 2.84%, to 2,750.
* Typical everyday revenues for capesize vessels, which normally transfer 150,000-ton freights of iron ore and coal, to name a few, increased $630 to $22,808.
* Iron ore futures slipped to a two-week short on Thursday, undermined by fears of falling demand in top consumer China after Beijing restated its stance on continuing to manage crude steel output in 2024.
* The panamax index succumbed to the fourth successive session, slipping 44 points, or about 2.50%, to 1,718, marking its lowest level because April 12.
* Average day-to-day incomes for panamax vessels, which typically carry about 60,000-70,000 tons of coal or grain cargo, dipped $392 to $15,466.
* Among smaller vessels, the supramax index decreased for the twelfth successive session, alleviating 7 points, or 0.54%,. to 1,286, its most affordable level because April 15.
* Yemen's Houthis released attacks on six ships in 3. different seas, the Iran-backed group stated on Wednesday,. consisting of the Marshall Islands-flagged bulk carrier Laax that. was damaged after reporting a missile strike off the Yemeni. coast.