Baltic index rises on higher capesize, panamax rates
The Baltic Exchange’s main sea freight index, which tracks rates for capesize, panamax and supramax vessels, rose on Tuesday, on higher rates across larger vessel segments.
The Baltic index rose 11 points, or 0.8%, to 1,413.
The capesize index gained 37 points, or 1.7%, to 2,244.
Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, rose $302 to $18,606.
The panamax index rose 4 points, or 0.3%, to 1,295.
Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, rose $30 to $11,653.
Among smaller vessels, the supramax index fell 4 points to 968.
Source: Reuters (Reporting by Asha Sistla in Bengaluru; Editing by Shailesh Kuber)