Baltic Index Gains on Firmer Capesize, Supramax Rates
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Thursday as rates for capesize and supramax vessels strengthened.
The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, was up 30 points, or 2.2 percent, at 1,376 points.
The capesize index rose 111 points, or 5.052 percent, to 2,308 points.
Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore and coal, were up $777 at $18,126.
The panamax index was down five points, or 0.393 percent, at 1,266 points.
Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, fell $38 to $10,185.
* The supramax index rose four points to 1,047 points. (Reporting by Nithin Prasad
