Higher Capesize Demand Pushes up Baltic Index
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Friday buoyed by higher demand for capesize vessels.
The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was up five points, or 0.83 percent, at 606 points.
The capesize index gained 37 points, or 4.67 percent, at 830 points.
Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were up $171 to $6,346.
The panamax index was down four points, or 0.68 percent, at 582 points.
Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, decreased $33 to $4,650.
Among smaller vessels, the supramax index rose four points to 579 points, while the handysize index was flat at 347 points.
(Reporting by Harshith Aranya in Bengaluru)
