Baltic Index Rises On Higher Rates
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, gained for the fifth straight session on Tuesday, supported by higher rates for capesize and panamax vessels.
* The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, gained 122 points, or 10 percent, to 1,339 points.
* The capesize index was up 21 percent, or 381 points, at 2,170 points.
* Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore and coal, rose by $2,918 to $16,836.
* The panamax index rose 1.9 percent, or 27 points, to 1,416 points. It marked its biggest daily percentage gain since late September.
* Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonnes to 70,000 tonnes, increased by $219 to $11,320.
* The supramax index was down 4 points at 943 points.
(Reporting by Karen Rodrigues in Bengaluru)