Baltic Index Firms on Panamax, Smaller Vessels
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Monday on firmer rates for panamaxes and smaller vessels.
The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was up 3 points, or 0.4 percent, at 748 points.
The panamax index was up 11 points, or 1.27 percent, at 874 points.
Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, increased $91 to $6,987.
The capesize index fell 7 points, or 0.68 percent, to 1,016 points.
Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were down $67 at $7,481.
Among smaller vessels, the supramax index rose 4 points to 697 points, while the handysize index rose 3 points to 366 points.
Reporting by Eileen Soreng