November 21, 2018 / 1:50 PM / a month ago

Stronger capesize demand pushes up Baltic index

Nov 21 (Reuters) - The Baltic Exchange’s main sea freight index, tracking rates for ships ferrying dry bulk commodities, rose on Wednesday, buoyed by higher demand for capesize vessels.

* The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, rose 5 points or 0.5 percent to 1,008 points.

* The capesize index gained 5.4 percent or 54 points to 1,056 points.

* Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore and coal, increased by $284 to $8,625.

* The panamax index fell for the sixth straight session, shedding 23 points or 1.6 percent to 1,393 points, its lowest since Aug. 14.

* Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonnes to 70,000 tonnes, declined by $194 to $11,134.

* The supramax index eased 4 points to 959 points. (Reporting by Brijesh Patel in Bengaluru)

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