- Baltic index at 4-week high on higher supramax demand.
- The capesize index eased 2 points, or 0.1%, to 2,400.
- The panamax index slipped 5 points, or 0.3%, to 1,819.
- The supramax index rose 16 points, or 1.7%, to 943.
The Baltic Exchange’s main sea freight index hit its highest in four-weeks on Monday, as the supramax rates soared high, reports Yahoo News.
How did this happen?
The Baltic dry index, which tracks rates for ships ferrying dry bulk commodities and reflects rates for capesize, panamax and supramax vessels, was up 3 points, or 0.2%, at 1,598, gaining for a fourteenth consecutive sessions.
Capesize index
- The capesize index eased 2 points, or 0.1%, to 2,400.
- Average daily earnings for capesizes, which typically transport cargoes of 170,000 tonnes to 180,000 tonnes, including iron ore and coal, were down $16 at $19,900.
Panamax index
- The panamax index slipped 5 points, or 0.3%, to 1,819.
- Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonnes to 70,000 tonnes, declined $43 to $16,372.
Supramax index
The supramax index rose 16 points, or 1.7%, to 943.
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Source: Yahoo News
