June 29, 2020 / 1:15 PM / 8 days ago

Baltic index rises on firmer capesize, supramax demand

June 29 (Reuters) - The Baltic Exchange’s main sea freight index rose on Monday, helped by higher rates for capesize vessels and a slight uptick in supramax vessel rates.

* The Baltic dry index, which tracks rates for ships ferrying dry bulk commodities and reflects rates for capesize, panamax and supramax vessels, gained 45 points, or 2.6%, to 1,794.

* The index rose 12.5% last week, marking its sixth consecutive week of gains.

* The index has surged 60% so far this year and has cancelled out losses caused by the coronavirus pandemic that hurt global trade and demand for vessels.

* The Baltic capesize index gained 106 points, or 2.5%, to 4,325.

* Average daily earnings for capesizes, which typically transport cargoes of 170,000 tonnes to 180,000 tonnes, including iron ore and coal, rose by $1,137 to $30,778.

* The supramax index edged 1 point higher to 679.

* The panamax index was unchanged at 1,256 points a high since Dec. 19.

* Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonnes to 70,000 tonnes, was up by $1 at $11,307. (Reporting by Nakul Iyer in Bengaluru; Editing by Ramakrishnan M.)

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