Baltic Index Rises for 12th Straight Session
The Baltic Exchange's main sea freight index rose for the 12th straight session on Thursday, helped by an uptick in demand for all vessel segments.
The Baltic dry index, which tracks rates for ships ferrying dry bulk commodities and reflects rates for capesize, panamax and supramax vessels, was up 37 points, or 2.4%, at 1,577, its highest since July 21.
The Baltic capesize index rose 52 points, or 2.2%, to 2,384.
Average daily earnings for capesizes, which typically transport cargoes of 170,000 tonnes to 180,000 tonnes, including iron ore and coal, were up $435 at $19,774.
The panamax index gained 50 points, or 2.9%, to 1,797, its highest since Oct. 21.
The index posted gains for a 12th straight session.
Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonnes to 70,000 tonnes, rose $451 to $16,174.
The supramax index edged up 18 points to 911.
(Reporting by Shreyansi Singh; editing by Uttaresh.V)