The Baltic Exchange's dry bulk freight index, which tracks rates for ships carrying dry bulk commodities, rose to a one-week high on Friday, buoyed by rising rates for capesize vessels.
The main Baltic index, which tracks rates for capesize, panamax and supramax vessels, added 63 points, or 2.4%, to 2,722, its highest since June 12.
The capesize index was up 209 points, or 5.3%, at 4,149, its highest since April 10. The index registered a 1% weekly gain.
Average daily earnings for capesize vessels, which typically transport 150,000-metric-ton cargoes including iron ore and coal, increased $1,900 to $34,128.
The panamax index fell 53 points, or 2.5%, to 2,096 and was down 8.2% for the week.
Average daily earnings for panamax vessels, which usually carry 60,000 to 70,000 tons of coal or grain, fell $479 to $18,860.
Among smaller vessels, the supramax index was up 4 points, or 0.2%, at 1,718.
(Reuters)