Baltic index flat, capesizes hit near 2-week high
The Baltic Exchange’s main sea freight index was steady on Monday as lower rates for the panamax vessel segment offset gains in the capesize index, which touched a near two-week high.
The overall index, which factors in rates for capesize, panamax and supramax shipping vessels that carry dry bulk commodities, was unchanged at 3,300.
The capesize index was up 35 points, or 0.9%, at 3,770, gaining for a fourth straight session to its highest since June 30.
Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes of coal and steel-making ingredient iron ore, increased by $294 to $31,266.
The panamax index dropped for a sixth consecutive session, declining 31 points, or 0.8%, to 4,070.
Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonnes to 70,00 tonnes, slipped $286 to $36,626.
The supramax index was down 9 points at 2,882.
Source: Reuters (Reporting by Swati Verma in Bengaluru; Editing by Amy Caren Daniel)