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Baltic index rises on firmer vessel rates

June 24 (Reuters) - The Baltic Exchange’s main sea freight index gained on Wednesday, on robust demand across all vessel segments.

* The Baltic dry index, which tracks rates for ships ferrying dry bulk commodities and reflects rates for capesize, panamax and supramax vessels, rose 88 points, or 5.4%, to 1,705, its highest since Oct. 31.

* The index has soared more than four-fold after slipping to a low of 393 points in May, after coronavirus-induced lockdowns hammered global trade and vessel demand.

* The Baltic capesize index gained 213 points, or 5.4%, to 4,189, its highest since Sept. 18.

* Average daily earnings for capesizes, which typically transport cargoes of 170,000 tonnes to 180,000 tonnes, including iron ore and coal, rose by $1,985 to $28,657.

* The panamax index gained 23 points, or 1.9%, to 1,245.

* Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonnes to 70,000 tonnes, rose $205 to $11,202.

* The supramax index was up by 7 points at 674. (Reporting by Nakul Iyer in Bengaluru; Editing by Shailesh Kuber)

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