Baltic index rises on higher capesize rates

By: | at 09:21 AM | Maritime  

Dec 24 (Reuters) - The Baltic Exchange’s main sea freight index, which tracks rates for ships carrying dry bulk commodities, rose on Tuesday on higher capesize rates.

* The overall index, which factors in the average daily earnings of capesize, panamax, supramax and handysize dry bulk transport vessels, gained 30 points, or 1.34 percent, to 2,277 points.

* The Baltic’s capesize index went up 82 points, or 2.05 percent, to 4,078 points.

* Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, gained $1,327, to $38,999.

* The panamax index fell 10 points, or 0.54 percent, to 1,825 points.

* Average daily earnings for panamaxes, which usually carry 60,000- to 70,000-tonne cargoes of coal or grains, were down $74 at $14,556. (Reporting by Shrutee Sarkar in Bangalore; Editing by Dale Hudson)


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