Baltic Index Rises on Freight Rates

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, extended its rally on Thursday, driven by higher rates across all vessel types.

 

The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was up 12 points, or 1.65 percent, at 738 points.

 

The capesize index gained 10 points, or 0.99 percent, at 1,020 points.

 

Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were up $160 to $7,529.

 

The panamax index was up 23 points, or 2.81 percent, at 842 points.

 

Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, increased $182 to $6,728.

 

Among smaller vessels, the supramax index rose 7 points to 686 points, while the handysize index rose 1 point to 361 points.