Baltic Index Rises on Higher Capesize Demand
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Friday on a stronger demand for capesize vessels.
The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was up four points, or 0.66 percent, at 610 points.
The capesize index gained 59 points, or 6.91 percent, at 913 points.
Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were up $316 to $6,754.
The panamax index was down 10 points, or 1.79 percent, at 550 points.
Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, decreased $83 to $4,393.
Among smaller vessels, the supramax index fell one point to 574 points, while the handysize index fell five points to 349 points.
(Reporting by Harshith Aranya in Bengaluru)
(Reporting by Harshith Aranya in Bengaluru)
