Rebound Baltic Index on Profits in All Size of the Ship

The Transportation Index of the Utik Baltic Exchange, which monitors tariffs for ships carrying dry bulk commodities, rises on Friday and takes a successive defeat of four sessions, supported by profits in all ship segments.

* BBDI’s main index, which tracks the tariff for shipping shipping ships, Panamax and Supramax, gets 51 points, or 2.7%, to 1,944 points, after reaching the lowest more than one month in the previous session. However, the contract dropped by almost 5% for a week.

* CAPESIZE Index (.BACI) rose 90 points, or 3.3%, to 2,793 points, but has declined 15% this week.

* The average daily income for cotton vessels (.batca), which usually transports 150,000 tons of cargo such as iron ore and coal, increased by $ 742 to $ 23,160.

* Iron ore futures subside, extending weekly losses to the second week in a row, due to increased steel production in China despite a slow demand with steel margins and iron ore input costs.

* Global raw steel production in July fell 1.3% from the previous year to 150.1 million tons, the world steel association data showed, with the output of the top producer of China falling 4% to 79.7 million tons in July.

* Meanwhile, the Panamax Index (.BPNI) added 51 points, or around 3%, to 1,770, reaching the highest level since July 28. The contract recorded more than 9% of the benefits this week.

* The average daily income for Panamax ships (.BPWT), which usually carries 60,000-70,000 tons of coal or seeds, rose $ 463 to $ 15,932.

* Among the smaller ships, the Supramax Index (.Bsis) rose 19 points, or 1.4%, higher to 1,424, up to the peak of May 2024. The contract rose 5.2% for this week.
Source: Reuters