Baltic Index Gains For Third Consecutive Session

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The Baltic Exchange’s main sea freight index gained for a third straight session on Thursday, buoyed by rising rates across the board.

The overall index, which factors in rates for capesize, panamax and supramax vessels, increased by 75 points, or 3.1%, to 2,462.

The capesize index gained 151 points, or 5.9%, to 2,702.

Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, rose $1,254 to $22,411.

The panamax index added 84 points, or 3.1%, to 2,790 points.

Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000-70,000 tonnes, increased $758 to $25,113.

The supramax index edged up 6 points to 2,460.

Source: Reuters