# Baltic Index Logs Monthly Gain on Strong Capesize Demand

> The Baltic Exchange dry bulk index rose 0.9% to 2,050 on June 28, marking a 12.9% monthly gain, driven by a 2.1% rise in the capesize index to 3,443, its highest since May 9. Capesize daily earnings climbed to $28,557, while panamax fell 0.3% and supramax declined.

- Date: 2024-06-28 · published 2024-06-28T12:00:00.000Z
- Category: logistics · region Global · magnitude low
- Page: https://feedsoft.ai/events/29972-baltic-index-logs-monthly-gain-on-strong-capesize-demand
- Commodities: [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md)

## Why it matters

Stronger capesize rates reflect firm iron ore and coal shipping demand, which raises freight costs for bulk grain and oilseed cargoes that share the same fleet and port capacity. Higher freight narrows the netback on exports from South America and the US to Asia.

## Read by commodity

- OCEANFRT: bullish ▲

## Sources

- gcaptain.com: https://gcaptain.com/baltic-index-logs-monthly-gain-on-strong-capesize-demand/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.