The Baltic Exchange’s main sea freight indicator, which tracks the rates of ships transporting dry bulk cargoes, edged up on Wednesday, as gains in panmax vessels offset declines in larger capesize segments.

* The overall index which includes rates for Capesize, Panamax, and Supramax shipping vessels rose 5 points or 0.3% to 1,836.

* The capesize Index dropped 58 points or 2.1% to 2,726, the lowest level since May 29,

The average daily earnings of capesize ships, which transport cargoes such as coal and iron ore, typically weighing 150,000 tons, were down $481 to $22,608.

Prices of Iron Ore Futures

Fluctuations

The improved economic data from China was offset by weak demand in the near term, high stockpiles at port and a stronger U.S. Dollar.

* The panamax Index reached its highest level since 15 May and was up by 57 points or approximately 3.2% to 1,864.

The average daily earnings of panamax vessels that carry 60,000 to 70,000 tons coal or grain cargo increased from $515 up to $16,780.

* The supramax index for smaller vessels was up 26 points or 2.1% to 1,297. This is its highest level since 28 May. (Reporting and editing by Shreya Biwas in Bengaluru. Anmol Choubey is based in Bengaluru.