Baltic index edges up on higher rates across vessel segments

ships

The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk commodities, inched up on Tuesday as rates improved across all vessel segments.

The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was up four points, or 0.2%, at 1,658 points.

The capesize index gained nine points, or 0.3%, at 2,871 points.

Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were up $80 at $23,813.

The panamax index was up one point, or 0.1% at 1,391 points.

Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, increased $4 to $12,516.

Among smaller vessels, the supramax index rose one point to 999 points, while the handysize index rose two points to 589 points.

Source: Reuters

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