Baltic index edges higher as panamax, supramax rates increase

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The Baltic exchange’s main sea freight index extended gains for a second straight session on Tuesday, helped by firmer rates for the panamax and supramax segments.

The Baltic dry index, which tracks rates for capesize, panamax and supramax vessels ferrying dry bulk commodities, increased by 14 points, or 0.4%, to 3,254.

The capesize index fell by 41 points, or 0.8%, to 5,068.

Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes of coal and steel-making ingredient iron ore, decreased by $339 to $42,031.

The panamax index gained 68 points, or 2.3%, to 3,082.

Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonnes to 70,00 tonnes, added $614 to $27,740.

The supramax index was up 29 points at 2,245.

Source: Reuters

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