Baltic Index Unchanged After Recent Surge
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, was little changed on Tuesday, as higher rates for panamax and supramax vessels were offset by weaker rates for capesize.
The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was flat at 870 points.
The capesize index shed 39 points, or 2.63 percent, at 1,442 points.
Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were down $312 to $11,265.
The panamax index gained 32 points, or 3.84 percent, at 865 points.
Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, increased $253 to $6,932.
Among smaller vessels, the supramax index rose 7 points to 665 points, while the handysize index was flat at 424 points.
Reporting by Karen Rodrigues
