Baltic index gains on stronger capesize rates

The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Monday on stronger capesize vessel rates.

The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was up 13 points, or 1.39 percent, at 946 points.

The capesize index climbed 86 points, or 7.55 percent, to 1,225 points.

Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were up $677 to $9,775.

The panamax index was down 14 points, or 1.26 percent, at 1,095 points.

Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, decreased $115 to $8,765.

Among smaller vessels, the supramax index fell 6 points to 783 points, while the handysize index dipped 2 points to 496 points.
Source: Reuters (Reporting by Karen Rodrigues in Bengaluru; Editing by Martina D’Couto)

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