Baltic Index Rises on Higher Freight Rates
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Wednesday on stronger rates across all vessel sizes.
The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was up 15 points, or 2.11 percent, at 726 points.
The capesize index rose 23 points, or 2.33 percent, to 1,010 points.
Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were up $325 to $7,369.
The panamax index was up 10 points, or 1.24 percent, at 819 points.
Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, increased $77 to $6,546.
Among smaller vessels, the supramax index rose 13 points to 679 points, while the handysize index rose two points to 360 points.
(Reporting by Harshith Aranya)
