Baltic Index Rises on Stronger Capesize Demand
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Wednesday on stronger demand for capesize vessels.
The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was up four points, or 0.66 percent, at 610 points.
The capesize index gained 53 points, or 5.76 percent, at 973 points.
Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were up $285 to $7,054.
The panamax index was down two points, or 0.37 percent, at 540 points.
Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, decreased $14 to $4,316.
Among smaller vessels, the supramax index fell three points to 564 points, while the handysize index fell six points to 338 points.
(Reporting by Nithin Prasad in Bengaluru)
