The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, inched up on Friday on firm rates for panamax and supramax vessels.
- The overall index, which factors in rates for capesize, panamax, and supramax shipping vessels, was up 4 points, or 0.33 percent, at 1,201 points.
- The Baltic index, however, posted its first weekly fall in three weeks, falling 0.5 percent.
- The panamax index was up 25 points, or 1.57 percent, at 1,615 points, its highest since Dec. 18.
- Panamax index gained for the fourth straight week, up 7.7 percent.
- Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, increased $197 to $12,960.
- The supramax index rose for the 18th straight session, up 6 points, or 0.58 percent, at 1,032 points.
- The capesize index fell to its lowest in a month, down 10 points, or 0.67 percent, at 1,479 points.
- For the week, the capesize index was down about 7 percent.
- Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were down $115 to $11,554.
Reporting by Swati Verma in Bengaluru