BENGALURU: The Baltic Exchange’s dry bulk freight index rose on Thursday, supported by higher rates across all segments.
The main Baltic index, which tracks rates for capesize, panamax and supramax vessels, rose 43 points, or 1.2percent, to 3,399 points. The capesize index rose 78 points, or 1.3percent, to 5,939 points. Average daily earnings for capesize vessels, which typically transport 150,000-ton cargoes, including iron ore and coal, increased by USD709 to USD50,361.
Iron ore futures were little changed as rising inventories and deepening losses at steel mills in top buyer China countered some support from expectations of reduced shipments from Brazil. The panamax index rose 49 points, or 2.1percent, to 2,382 points.
Average daily earnings for panamax vessels, which usually carry 60,000 to 70,000 tons of coal or grain, gained USD438 to USD21,434. Among smaller vessels, the supramax index inched up 4 points, or 0.2percent, at 1,782.
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