16-07-2016

Higher rates continue to perk up Baltic index

BI

The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Friday, boosted by stronger rates across all vessel segments.

The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was up 7 points, or 0.95 percent, at 745 points.

The capesize index rose 3 points, or 0.29 percent, to 1,023 points.

Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were up $19 at $7,548.

The panamax index was up 21 points, or 2.49 percent, at 863 points.

Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, increased $168 to $6,896.

Among smaller vessels, the supramax index rose 7 points to 693 points, while the handysize index rose 2 points to 363 points.

Source: Reuters 

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