Baltic index extends rally on higher capesize rates
The Baltic Exchange’s dry bulk sea freight index rose on Tuesday for the fourth consecutive session driven by a jump in the capesize segment. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, gained 132 points, or 5.8%, to 2,391 – its highest level in one-and-a-half years. The capesize index surged 360 points, or 9.4%, to 4,179 – its highest since May 2022. Average daily earnings for capesize vessels, which typically transport 150,000-tonne cargoes carrying commodities such as iron ore and coal, added $2,985 to ...
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