Better Rates for Small Vessels Helps Raise Baltic Index
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, edged higher on Monday, on increased rates for smaller vessels.
The overall index that factors in the rates for capesize, panamax, supramax and handysize shipping vessels, rose three points to 398 points.
The capesize index remained flat at 197 points.
Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were down $5 to $2,031.
The panamax index shed four points to 459 points.
Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, fell $38 to $3,678.
Among smaller vessels, the supramax index was up 11 points at 460 points, while the handysize index rose two points to 262 points.
(Reporting by Kevin Jose in Bengaluru)
(Reporting by Kevin Jose in Bengaluru)
