Baltic Index Gains on Firmer Rates Across Vessel Segments

The Baltic Exchange's main sea freight index, tracking rates for ships ferrying dry bulk commodities, rose on Wednesday for the sixth consecutive session on stronger rates across vessel segments, while the panamax touched its highest in over nine months.

* The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, rose 53 points, or 3.7 percent, to 1,503 points.

* The capesize index gained 42 points, or 2.2 percent, at 1,910 points.

* Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore and coal, were up $1,051 at $17,535.

* The panamax index gained 38 points, or 2.3 percent, to touch its highest since Dec. 15, 2017 at 1,677 points.

* Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, increased by $305 to $13,455.

* The supramax index rose 4 points to 1,194 points.

Reporting by Arijit Bose in Bengaluru