Baltic index gains on stronger rates for all vessels

The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk commodities, continued its winning streak for the fourth day on Tuesday, supported by firmer rates across vessel types and sizes.

The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was up 17 points, or 1.22 percent, at 1,415 points, a peak since Nov. 10, 2014.

The capesize index climbed 42 points, or 1.57 percent, at 2,723 points.
Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were up $219 to $19,797.

The panamax index rose 7 points, or 0.46 percent, at 1,536 points.

Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, increased $57 to $12,343.

Among indexes tracking rates for smaller vessels, the supramax index gained 20 points to 1,017 points, while the handysize index rose 11 points to 562 points.

Source: Reuters 

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