Baltic Index Ticks Up On Capesize Jump
The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk commodities, edged up on Monday as rates for the larger capesize vessel segment rebounded. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, gained 7 points, to 1,542. The capesize index was up 32 points, or about 1.7%, to 1,945 – its biggest one-day rise since March 14. Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, increased $267 to $16,134. The panamax index ...
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