Baltic Index Ends at 8-Week High on Stronger Rates

© John A Trax Jr / Adobe Stock

Posted by Eric Haun

The Baltic Exchange's main sea freight index, tracking rates for
ships carrying dry bulk commodities, closed at it highest in more
than eight weeks on Monday as rates across all vessel segments

The overall index, which factors in rates for capesize, panamax,
supramax and handysize shipping vessels, rose 40 points, or 4.26
percent, to close at 979 points.

The capesize index gained 118 points, or 9.62 percent, to finish
at 1,345 points.

Average daily earnings for capesizes, which typically transport
150,000-tonne cargoes such as iron ore and coal, were up $1,014
to $10,439.

The panamax index was up 36 points, or 3.22 percent, to end at
1,154 points.

Average daily earnings for panamaxes, which usually carry coal or
grain cargoes of about 60,000 to 70,000 tonnes, increased $289 to

Among smaller vessels, the supramax index rose 6 points to close
at 852 points, while the handysize index rose 6 points to close
at 468 points.

(Reporting by Nithin Prasad in Bengaluru; Editing by Savio

Mar 6, 2017

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