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BREAKING NEWS
Baltic Index Gains On Strong Capesize Demand
The Baltic Exchange’s dry bulk sea freight index rose on Friday, helped by an uptick in capesize and panamax vessel rates.
The overall index, which factors in rates for capesize, panamax and supramax vessels, rose 78 points, or 4.1%, to 1,964.
However, the index dropped 0.7% for the week.
The capesize index jumped 228 points, or 15.8%, to 1,675.
Average daily earnings for capesizes, which transport 150,000-tonne cargoes such as iron ore and coal, rose by $1,888 to $13,888.
The panamax index edged up 10 points to 2,375.
Average daily earnings for panamaxes, which ferry 60,000-70,000 tonne coal or grain cargoes, rose $87 to $21,375.
The supramax index fell by 1 point to 2,325.
Source: Reuters
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