Smaller Tonnage Buoys Baltic Index
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Monday, tracking gains across panamax and smaller vessel segments.
The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was up 12 points, or 1.33 percent, at 912 points.
The capesize index was flat at 933 points.
Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were up $62 to $7,780.
The panamax index was up 29 points, or 2.47 percent, at 1,202 points.
Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, increased $237 to $9,635.
Among smaller vessels, the supramax index was up seven points at 776, while the handysize index rose three points to 489 points. (Reporting by Apeksha Nair
