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Baltic index extends gain as panamax, supramax rates firm

The Baltic Exchange’s dry bulk sea freight index, which measures shipping rates for vessels transporting dry bulk commodities, rose for the third consecutive session on Tuesday, supported by gains in panamax and supramax vessel segments.

The index, which factors in rates for capesize, panamax and supramax shipping vessels, rose by 15 points to 753 points.

The panamax index gained 71 points to 901 points.

Average daily earnings for panamax vessels, which usually carry 60,000-70,000 tons of coal or grain cargo, increased by $643 to $8,112.

The capesize index was down 17 points to 844 points.

Average daily earnings for capesize vessels, which typically transport 150,000-ton cargoes such as iron ore and coal, decreased by $146 to $6,998.

Among smaller vessels, the supramax index was up 3 points at 605 points, snapping its over two-month loosing streak
Source: Reuters

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