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Baltic index marks first gain in six weeks as rates climb across segments

Baltic index marks first gain in six weeks as rates climb across segments * The Baltic Exchange‘s main sea freight index, tracking rates for ships carrying dry bulk commodities rose on Friday and marked its first weekly gain in six weeks as rates across larger vessel segments continued to climb.

* The overall index – which factors in rates for capesize, panamax and supramax shipping vessels – was up 21 points, or 2.1 percent, at 1,014 points. The index was up about 7 percent for the week.

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* The capesize index gained 5.7 percent, or 56 points, to 1,038 points and was up 26 percent in its biggest weekly rise since August 2017.

* Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore and coal, were up $449 to $8,811.

* The panamax index was up 16 points, or 1.2 percent, at 1,351 points.

* Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, increased $127 to $10,849.

* The supramax index fell one point to 1,013 points.

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