Baltic Index Gains On Firmer Capesize Rates
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, inched higher on Thursday helped by stronger rates for capesize vessels.
The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was up seven points, or 0.7 percent, at 1,012 points.
The capesize index jumped 50 points, or 3.04 percent, to 1,695 points.
Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, was up $337 to $12,741.
The panamax index shed five points, or 0.49 percent, to 1,006 points.
Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, declined $37 to $8,090.
Among smaller vessels, the supramax index fell three points to 787 points, while the handysize index was unchanged at 510 points.
Reporting by Eileen Soreng in Bengaluru