Higher Capesize Rates Push up Baltic Index
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Friday, on improved rates for capesize vessels.
The overall index that factors in the rates for capesize, panamax, supramax and handysize shipping vessels, rose three points to 395 points.
The capesize index was up 19 points, or 10.67 percent, at 197 points.
Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were up $51 to $2,036.
The panamax index slipped four points to 463 points.
Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, fell $33 to $3,716.
Among smaller vessels, the supramax index rose four points to 449 points, while the handysize index was up two points at 260 points.
(Reporting by Apeksha Nair in Bengaluru)
