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Baltic index hits 15-week high on firmer capesize rates

Baltic index hits 15-week high on firmer capesize rates New Delhi:

* The Baltic Exchange‘s main sea freight index, tracking rates for ships carrying dry bulk commodities, firmed on Tuesday as rates for capesize vessels rose for a twelfth straight session.

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* The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, was up 24 points, or 1.8 percent, at 1,330 points.

* The index hit its highest since Jan. 10.

* The capesize index gained 121 points, or 6 percent, at 2,130 points.

* The index rose for a twelfth straight session to touch an over 14-week high.

* Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore and coal, were up $647 to $17,084.

* The panamax index was down 12 points, or 0.9 percent, at 1,269 points.

* Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, decreased $92 to $10,194.

* The supramax index rose three points to 1,030 points.

This story has not been edited by coalpost and is auto-generated from a syndicated feed of ET https://energy.economictimes.indiatimes.com/news/coal/baltic-index-hits-15-week-high-on-firmer-capesize-rates/63899522?utm_source=RSS&utm_medium=ETRSS

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