Baltic Index Gains on Higher Rates Across Segments

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, inched up on Tuesday on firmer rates across all vessel segments.

The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, rose 16 points, or 0.9 percent, at 1,725 points.

The capesize index gained 51 points, or 1.4 percent, at 3,587 points.

Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore and coal, increased $240 to $26,299.

The panamax index rose 23 points, or 1.7 percent, at 1,362 points.

Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, increased by $192 to $10,915.

The supramax index rose 2 points to 1,042 points.

(Reporting by Karen Rodrigues in Bengaluru; Editing by Shailesh Kuber)