Baltic Index Up for Ninth Straight Session
Posted by Michelle Howard
March 13, 2017
© Volodymyr Kyrylyuk / Adobe Stock
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose for a ninth straight session on Monday, helped by stronger capesize rates.
The overall index, which also factors in rates for panamax, supramax and handysize shipping vessels, ended up 13 points or 1.2 percent at 1,099 points.
The capesize index gained 54 points, or 3.02 percent, to close at 1,843 points.
Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, rose $412 to $13,643.
The panamax index fell by four points, or 0.33 percent, to end at 1,207 points.
Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, decreased $31 to $9,697.
Among smaller vessels, the supramax index rose one point to finish at 875 points, while the handysize index climbed four points to end at 499 points.
(Reporting by Eileen Soreng in Bengaluru)
