Baltic Index Up Slightly on Higher Rates for Large Vessels
The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, rose slightly on Monday due to firmer rates for the large vessel segments.
The overall index, which factors in average daily earnings of capesize, panamax, supramax and handysize dry bulk transport vessels, was up one point at 598 points.
The capesize index rose five points or 0.94 percent to 537 points.
Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, rose $29 to $4,741.
The panamax index was up four points at 646 points.
Average daily earnings for panamaxes, which usually carry 60,000 to 70,000-tonne cargoes of coal or grain, were up $39 at$5,156.
The handysize index and the supramax index were down one point each at 357 points and 618 points respectively.
(Reporting by Vijaykumar Vedala, editing by David Evans)
