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Buoyant Rates Lift Baltic Index Maritime Activity Reports, Inc. © Dimitar / Adobe Stock The Baltic Exchange s main sea freight index surged to its highest since late January on Tuesday as forward-looking market sentiment lifted capesize rates, and smaller vessel segments continued to firm. The Baltic dry index, which tracks rates for capesize, panamax and supramax vessels ferrying dry bulk commodities, gained 131 points, or 9.6%, to 1,495, a peak since Jan. 27. The capesize index jumped 224 points, or 17.8%, to 1,485 - its strongest since Feb. 5. Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were up $1,857 to $12,314. It is the FFA (Forward Freight Agreement) sentiment that is pushing up the capesize index, which could be coming from hopes of further vaccine rollouts boosting demand, said Rebecca Galanopoulos Jones, head of research at Alibra Shipping.

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