Capesize, panamax gains drive Baltic index higher
The Baltic Exchange’s main sea freight index rose for a fourth straight session on Thursday, helped by higher rates for capesize and panamax vessels. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels carrying dry bulk commodities, rose 20 points, or 2%, to 1,040 points – its highest so far this month. The capesize index jumped 73 points, or 5.3%, to 1,460. Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, rose $609 to $12,112. “After a long ...
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