Baltic Index Rises on Firmer Capesize Rates

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Friday, boosted by stronger demand for capesize vessels.

The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, was up 17 points, or 1 percent, at 1,773 points.

The capesize index gained 98 points, or 2.8 percent, to 3,632 points.

Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore and coal, were up $701 at $27,124.

The panamax index was down 44 points, or 3 percent, at 1,447 points.

Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, decreased $354 to $11,574.

The supramax index fell two points to 1,030 points.

(Reporting by Harshith Aranya in Bengaluru)