Baltic index gains as panamax earnings rise

By: | at 08:47 AM | Liner Shipping  

The Baltic Exchange’s main sea freight index, which gauges the cost of shipping bulk commodities such as iron ore, grain, coal and fertiliser, rose for a tenth straight day on Friday, with earnings for capesizes and panamaxes moving up.

* The overall index, which factors in the average daily earnings of capesize, panamax, supramax and handysize dry bulk transport vessels, rose 31 points, or 1.45 percent, to 2,176 points.

* The Baltic’s panamax index gained 56 points, or 3.0 percent, to 1,923.

* Average daily earnings for panamaxes, which usually transport 60,000-70,000 tonne cargoes of coal or grain, rose $444 to $15,356.

* The Baltic’s capesize index slipped 1 point to 3,842 points.

* Average daily earnings for capesizes, which usually transport 150,000 tonne cargoes such as iron ore and coal, were up $376 to $33,851.

* The overall index has risen 19.49 percent since last Friday.


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