Baltic Index Rises on Broad Demand
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Friday on stronger demand across all vessel segments.
The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was up 19 points, or 2.22 percent, at 875 points.
The capesize index gained 31 points, or 2.73 percent, to close at 1,165 points.
Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were up $264 at $9,358.
The panamax index was up 20 points, or 2.16 percent, to end at 947 points.
Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, increased $167 to $7,613.
Among smaller vessels, the supramax index rose 12 points to 809 points, while the handysize index rose 8 points to 428 points.
Reporting by Nithin Prasad
