Baltic Index Rises on Greater Vessel Demand
The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, rose on Wednesday, boosted by demand that is driving rates up across vessel segments.
The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was up 13 points, or 2.07 percent, at 640 points.
The capesize index climbed 19 points, or 2.03 percent, to 955 points.
Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were up $189 at $6,784.
The panamax index rose 16 points, or 2.59 percent, to 34 points.
Average daily earnings for panamaxes increased $121 to $5,069. Panamax vessels usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes.
Among smaller vessels, the supramax index rose 19 points to 606 points, while the handysize index rose 2 points to 338 points.
(Reporting by Koustav Samanta in Bengaluru)
