Baltic Index Rises On Higher Rates For Capesizes

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The Baltic Exchange’s main sea freight index, which tracks rates for capesize, panamax and supramax vessels, inched up on Monday as rates improved for the capesize vessel segment.

The Baltic dry index was up 11 points, or 0.9%, at 1,207.

The capesize index rose 51 points, or 2.9%, to 1,790.

Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, rose $427 to $14,848.

The panamax index fell 9 points, or 0.8%, to 1,181, its lowest since July 29.

Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, fell $86 to $10,625.

The supramax index shed 8 points to 893.

Source: Reuters

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