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Baltic index rebounds on capesize, panamax gains

The Baltic Exchange’s main sea freight index rebounded on Tuesday after touching a near two-month low in the previous day as rates rose for the larger capesize and panamax vessel segments.

The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, increased by 24 points, or 1.1%, to 2,284.

The capesize index gained 62 points to 2,308, a rise of about 2.8%.

Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, rose by $511 to $19,138.

The panamax index added 29 points, or 1.1%, to 2,629 points.

Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonnes to 70,000 tonnes, increased by $254 to $23,657.

The supramax index lost 12 points to 2,451.
Source: Reuters (Reporting by Rahul Paswan in Bengaluru; Editing by Aditya Soni)

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