Baltic Index Rises in All Vessel Segments

Posted by Michelle Howard
Monday, March 14, 2016
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities continued to rise on Monday helped by improved demand across all vessel segments.
 
The overall index that factors in the rates for capesize, panamax, supramax and handysize shipping vessels, was up five points, or about 1.29 percent, to 393 points.
 
The panamax index rose four points, or 0.84 percent, to 481 points.
 
Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, rose $34 to $3,861.
 
Among smaller vessels, the supramax index gained seven points to 427 points, and the handysize index was up three points at 252 points.
 
The capesize index rose three points, or 1.7 percent, to 179 points on Monday.
 
Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, fell $14 to $2,158.
 
(Reporting by Harshith Aranya in Bengaluru)

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