Baltic Index Hits Over 4-1/2 year Peak

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, rose on Tuesday to mark its highest in over 4-1/2 years, boosted by stronger rates for larger vessels.

* The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, was up 56 points, or 3.3 percent, to 1,774 points - a peak since January 8, 2014.

* The capesize index rose 157 points, or 4.8 percent, to 3,461 points.

* Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore and coal, increased by $1,291 to its highest since Dec. 14, at $26,367.

* The panamax index climbed 15 points, or about 1 percent, to 1,581 points.

* Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, increased by $120 to $12,649.

* The supramax index rose 2 points to 1,030 points.

Reporting by Sumita Layek in Bengaluru