Capesize Rates Hit Near Six-week High
(File photo: Star Bulk)
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Friday as rates for the capesize vessel segment hit their highest in about six weeks.
The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, rose 11 points, or 0.7 percent, to 1,576 points.
The capesize index gained 54 points, or 2.5 percent, to 2,230 points, its highest since Sept. 10.
Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore and coal, were up $441 at $18,932.
The panamax index lost 14 points or 0.8 percent, to 1,775 points.
Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, dropped $110 to $14,217.
The supramax index fell 11 points to 1,170 points.
(Reporting by Arijit Bose in Bengaluru; Editing by Maju Samuel)
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