Baltic index hits near 3-yr highs on stronger rates across segments


The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk commodities, rose for a second straight session on Friday to hit a near three-year high on stronger rates across vessel segments.

The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was up 24 points, or 1.76 percent, at 1,385 points, its highest since November 2014.
The capesize index gained 43 points, or 1.63 percent, to 2,685 points.

Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were up $329 at $19,614.
The panamax index was up 22 points, or 1.47 percent, at 1,521 points.

Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, increased $177 to $12,224.

Among smaller vessels, the supramax index rose 27 points to 977 points, while the handysize index rose 7 points to 536 points.

Source: Reuters 

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