Baltic Index Gains on Firmer Rates Across Vessel Segments
The Baltic Exchange's main sea freight index, tracking rates for ships transporting dry bulk commodities, edged higher on Thursday, buoyed by strong demand across vessel segments.
* The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, gained 12 points, or 0.9 percent, to 1,365 points.
* The capesize index rose 27 points, or 1.3 percent, to 2,180 points.
* Average daily earnings for capesizes, which typically transport 170,000 tonne-180,000 tonne cargoes such as iron ore and coal, increased by $169 to $16,977.
* The panamax index snapped its four-day losing streak and climbed 14 points to 1,459 points.
* Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonnes to 70,000 tonnes, rose by $118 to $11,672.
* The supramax index was up 5 points at 968 points.
(Reporting by Brijesh Patel in Bengaluru)