Baltic Index Rises on Stronger Rates Across Segments
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose for a sixth straight session on Monday as rates across vessel segments picked up.
The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, was up 11 points, or 1.1 percent, at 1,025 points.
The capesize index was up 23 points, or 2.2 percent, at 1,061 points.
The index was up for a seventh straight session on Monday. It rose 26 percent last week in its biggest weekly gain since August 2017.
Average daily earnings for capesizes, which typically transport 170,000 tonne -180,000 tonne cargoes such as iron ore and coal, were up $190 at $9,001.
The panamax index was up 8 points, or 0.592 percent, at 1,359 points. The index was up for a fifth straight session.
Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonnes to 70,000 tonnes, increased $65 to $10,914.
The supramax index rose 3 points to 1,016 points.
Reporting by Nithin Prasad in Bengaluru
