Baltic index rise on stronger capesize, smaller vessel demand

Baltic Exchange

The Baltic Exchange’s main sea freight index, which tracks rates for ships carrying dry bulk commodities, rose on Monday due to demand for capesizes and smaller vessels.

The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was up 16 points, or 2.16 percent, at 757 points.

The capesize index gained 52 points, or 7.04 percent, to 791 points.

Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were up $366 to $6,496. The panamax index was down 8 points, or 0.87 percent, at 909 points.

Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, decreased $61 to $7,298.

Among smaller vessels, the supramax index rose 18 points to 747 points, while the handysize index rose 5 points to 396 points.

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