Baltic Index Gains on Higher Capesize Rates

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Monday, pulled up by stronger demand for capesize vessels.

* The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, was up 18 points, or 1.1 percent, at 1,709 points.

* The capesize index rose 56 points, or 1.6 percent, at 3,536 points.

* Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore and coal, were up $438 to $26,059.

* The panamax index was flat at 1,339 points.

* Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, fell $1 to $10,723.

* The supramax index rose 1 point to 1,040 points.

Reporting by Harshith Aranya in Bengaluru