The Baltic Exchange’s main sea freightindex edged up on Friday to mark its first weekly rise in three,as higher panamax and supramax vessel rates outweighed weaknessin the capesize segment.

The Baltic dry index, which tracks rates forcapesize,panamax and supramax vessels ferrying dry bulk commodities, wasup 26 points, or 2%, at 1,339, its highest since Feb. 2.

The index inched up 0.5% this week.

The capesize index slipped 1 point, or 0.1%, to1,242,its weakest since Dec. 9, 2020.

The index lost about 19% for the week, its third weeklydeclinein a row.

Average daily earnings for capesizes, which typicallytransport150,000-tonne cargoes such as iron ore and coal, dipped $8 to$10,304.

The panamax index climbed 73 points, or about 4%,to1,944, a peak since September 2019.

It climbed about 17% this week, its best weeklyperformancesince Jan. 8.

Average daily earnings for panamaxes, which usually carrycoalor grain cargoes of about 60,000 tonnes to 70,000 tonnes, wereup $658 to $17,496.

The supramax index rose 20 points to 1,217, itshighestsince Oct. 22, 2019. It firmed 6.4% this week.

Source: Reuters

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