Baltic Index Inches up on Higher Capesize Demand
The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, rose on Monday, supported by higher demand for capesize vessels.
The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, inched up two points, or 0.29 percent to 690 points.
The capesize index, rose two points, or about 0.18 percent to 1,087 points.
Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, rose $60 to $8,276.
The panamax index fell nine points to 727 points.
Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, fell $73 to $5,795.
The supramax index was up four points at 562 points, and the handysize index rose two points to 356 points.
(Reporting by Nithin Prasad in Bengaluru)
