Baltic Index Firm on Capesize Support
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Tuesday, supported by higher rates for capesize vessels.
The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was up 3 points, or 0.31 percent, at 980 points.
The capesize index jumped 50 points, or 4.27 percent, to 1,221 points.
Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were up $332 to $9,547.
The panamax index was down 23 points, or 1.84 percent, at 1,225 points.
Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonnes to 70,000 tonnes, decreased $190 to $9,809.
Among smaller vessels, the supramax index slipped 1 point to 813 points, while the handysize index was flat at 500 points. (Reporting by Apeksha Nair
