Baltic Sea Freight Index Up on Higher Rates

Posted by Michelle Howard
Thursday, March 24, 2016
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Thursday, helped by higher rates for bigger vessels.
 
The overall index that factors in the rates for capesize, panamax, supramax and handysize shipping vessels, was up five points to 406 points.
 
The capesize index rose seven points or 3.57 percent to 203 points.
 
Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were up $77 to $2,082.
 
The panamax index was up eight points at 466 points.
 
Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, rose $58 to $3,731.
 
Among smaller vessels, the supramax index rose five points to 473 points, while the handysize index was up two points at 268 points.
 
(Reporting By Nallur Sethuraman)

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