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Baltic index touches over 4-1/2 month high

Baltic index touches over 4-1/2 month high New Delhi:

* The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Wednesday to its highest in over 4-1/2 months, boosted by rising rates for capesize vessels.

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* The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, was up 33 points, or 2.3 percent, at 1,465 points.

* The capesize index rose 134 points, or 5.4 percent, to 2,616 points, its highest in four months.

* “Capesize rates continued to demonstrate positive momentum, with average earnings improving,” analysts at ship broker Clarksons Platou Securities said.

* Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore and coal, were up $901 at $20,469.

* The panamax index was down 4 points, or 0.318 percent, at 1,253 points.

* Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, decreased $27 to $10,089.

* The supramax index fell 3 points to 1,048 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-touches-over-4-1/2-month-high/64104220?utm_source=RSS&utm_medium=ETRSS

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