Baltic index posting the largest weekly profit in four months with an increase

The Utik Baltic Exchange Sea Transportation Index, which measures tariffs for ships carrying dry bulk commodities, jumps on Friday, posted the largest weekly increase in more than four months, supported by a stable increase in ship rates.

The main index, which tracks the tariff for shipping shipping ships, Panamax and Supramax, rose 22 points, or 1.1%, to 2,052 points, the highest level since 30 September 2024. The contract recorded an increase in the highest weekly percentage since the end of February.

The Castesize Index rose 63 points, or 2.1%, to 3,084, reaching the highest level in a month. The contract rose more than 43% for a week.

The average daily income for capsizing ships, which usually transport 150,000 tons of cargo such as iron ore and coal, increased $ 520 to $ 25,575.

Dalian Iron Ore Futures rose to the highest closure in 4-1/2 months and recorded the fourth weekly profit in a row, as a prospect of optimistic demand and hoped for further policy support from Beijing to encourage market sentiment.

The Panamax index fell 14 points, or 0.7%, to 1,919. However, the contract rose more than 3% for a week.

The average daily income for Panamax ships, which usually carry 60,000-70,000 tons of coal or seeds, lost $ 127 to $ 17,272.

Among the smaller ships, the Supramax index added 11 points, or 0.8%, to 1,346.
Source: Reuters