Baltic Index Snaps Losing Streak
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Wednesday, snapping a 16-session decline on better rates for capesize vessels.
The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was up 3 points, or 0.37 percent, at 821 points.
The capesize index gained 13 points, or 0.95 percent, to 1,379 points.
Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were up $218 at $10,178.
The panamax index was flat at 783 points.
Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, decreased $6 to $6,281.
Among smaller vessels, the supramax index fell 6 points to 652 points, while the handysize index declined 5 points to 429 points.
Reporting by Karen Rodrigues
