October 28, 2019 / 2:12 PM / 22 days ago

Baltic index inches up on stronger capesize demand

Oct 28 (Reuters) - The Baltic Exchange’s main sea freight index, which tracks rates for ships ferrying dry bulk commodities, edged up on Monday, supported by increased demand for capesize vessels.

* The Baltic index, which reflects rates for capesize, panamax and supramax vessels, inched up 2 points, or 0.1%, to 1,803.

* The capesize index gained 43 points, or 1.4%, to 3,052, its highest in more than a week.

* The average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore and coal, rose by $417 to $25,362.

* The panamax index fell 49 points, or 2.9%, to 1,646, its lowest since July 4.

* Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonne to 70,000 tonne, decreased $390 to $13,206.

* The supramax index edged down 8 points to 1,179. (Reporting by Shreyansi Singh in Bengaluru; Editing by Supriya Kurane)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below