Baltic index logs best day in nearly 3 months as larger vessel rates rise
The Baltic Exchange’s main sea freight index posted its biggest single-day gain since mid-March on Tuesday, supported by higher rates for capesize and panamax vessels. The overall index, which factors in rates for capesize, panamax and supramax shipping vessels carrying dry bulk commodities, rose 77 points, or 8.2%, to 1,016, its biggest daily percentage gain since March 14. The capesize index jumped 205 points or 17.4% to 1,383 – its biggest rise in over three months. Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore ...
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