Baltic Dry Index Rose, Due to Larger Ship Freight Rise
Baltic Exchange Dry bulk freight index rose on Friday, due to the larger ship freight to rise.
Dry bulk freight index rose 73 points, or 7.75 percent, to close at 1,015 points. The index is a measure of shipping costs for iron ore, cement, grain, coal and fertilizer, and other resources.
The Baltic's capesize index surged 269 points, or 14.29 percent, to 2,151 points. Average daily profit rose $ 1,884 to $ 15,561. Typically this type of ship's carrying capacity is 150,000 tons, carrying cargo such as iron ore or coal.
Baltic Panamax freight index rose 64 points, or 8.66 percent, to close at 803 points. Average daily profit rose $ 514 to $ 6,397. Typically this type of ship carrying capacity of 6-7 million tons. (End)
(Compiled Lee Di children; revisers female red)