Baltic index up for third straight session on stronger rates

The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Friday for the third straight session on stronger rates across vessel segments.

The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was up 23 points, or 1.66 percent, at 1,405 points.

The capesize index gained 41 points, or 1.42 percent, to 2,929 points.

Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were down $271 at $20,427.

The panamax index was up 61 points, or 4.54 percent, at 1,406 points.

Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, rose $489 to $11,300.

Among smaller vessels, the supramax index snapped eight straight sessions of losses and rose 6 points to 971 points, while the handysize index rose 3 points to 610 points.

Source: Reuters

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