Baltic index up for 10th consecutive session
in Dry Bulk Market 18/10/2017
The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk commodities, rose for a tenth straight session on Tuesday, as rates increased across all vessel segments.
The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was up 29 points, or 1.9 percent, at 1,552 points, a peak not touched since March 2014.
The capesize index climbed 99 points, or 3.32 percent, to close at 3,079 points.
Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were up $718 at $21,689.
The panamax index rose 14 points, or 0.86 percent, to 1,651 points, the highest level since January 2014.
Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, rose $115 to $13,265, also the highest since January 2014.
Among smaller vessels, the supramax index rose 12 points to end at 1,094 points, while the handysize index increased 7 points to close at 663 points, its highest since March 2014.
Source: Reuters (Reporting by Sumita Layek in Bengaluru; Editing by Maju Samuel)
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