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Baltic index up with surge in capesize rates

By: | at 11:05 AM | Breakbulk & Projects  

Dec 20(Reuters) - The Baltic Exchange’s main sea freightindex, which tracks rates for ships carrying dry bulkcommodities, jumped up on Friday as capesize rates increasedafter remaining on the decline for five days.

* The overall index, which factors in the average dailyearnings of capesize, panamax, supramax and handysize dry bulktransport vessels, rose by 74 points, or 3.47 percent, to 2,208points.

* The Baltic’s capesize index went up 279 points, or7.76 percent to 3,875 points.

* Average daily earnings for capesizes, which typicallytransport 150,000-tonne cargoes such as iron ore and coal,gained $3078, to $35,886.

* The panamax index fell 25 points, or 1.33 percent,to 1,858 points.

* Average daily earnings for panamaxes, which usually carry60,000- to 70,000-tonne cargoes of coal or grains, were down$202 to $14,815. (Reporting by Anupam Chatterjee in Bangalore; editing by KeironHenderson)