Stronger Rates Across Vessels Lift Baltic Index
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Friday as rates climbed further across vessel segments.
The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was up 12 points, or 1.35 percent, at 900 points.
The panamax index rose 32 points, or 2.8 percent, at 1,173 points.
Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, increased $246 to $9,398.
The capesize index gained 5 points, or 0.54 percent, to 933 points.
Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were up $17 at $7,718.
Among smaller vessels, the supramax index rose 11 points to 769 points, while the handysize index increased 2 points to 486 points.
(Reporting by Karen Rodrigues in Bengaluru)