Baltic index rises for third day on higher Capesize rates


The Baltic Exchange’s main sea freight index inched up for the third straight session on Thursday as higher capesize rates offset weakness across all other vessel segments.

The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels that ferry dry bulk commodities, was up 9 points, or 0.82 percent, at 1,106 points.

The capesize index gained 84 points, or 5.32 percent, at 1,662 points.

Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, rose $737 to $13,208.

The panamax index dropped 30 points, or 2.32 percent, to 1,263 points. It was down for the ninth straight session.

Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, dropped $237 to $10,134.

Among smaller vessels, the supramax index eased 11 points to 833 points, and the handysize index shed 3 points to 529 points.
Source: Reuters



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