Baltic Index Gains on Stronger Panamax Rates

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, edged up on Tuesday, boosted by a continued demand for panamax vessels.

* The overall index, which factors in rates for capesize, panamax and supramax vessels, rose 9 points, or 0.5 percent, to 1,736 points.

* The panamax index rose 24 points, or 1.6 percent, to 1,530 points. It marked its sixth consecutive session rise.

* Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, increased by $193 to $12,257.

* The capesize index rose by 2 points, or 0.1 percent, at 3,426 points.

* Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore and coal, rose $23 to $25,326.

* The supramax index rose 7 points to 1,069 points.

Reporting by Harshith Aranya in Bengaluru