Feb 21 (Reuters) - The Baltic Exchange's main sea
freight index , climbed to the highest in more than a
week on Tuesday as shipping rates for all vessel segments
increased.
* The overall index, which factors in rates for capesize,
panamax and supramax shipping vessels, was up 42 points, or
7.6%, at 594.
* The capesize index gained 19 points, or 6.7%, at
303.
* Average daily earnings for capesizes , which
typically transport 150,000-tonne cargoes such as iron ore and
coal, were up $159 at $2,513.
* "Shipowners are now seriously considering idling capacity
to wait out the current crash in rates," wrote shipbroker Allied
in a weekly note, referring to the capesizes.
* Chinese utilities and traders have stepped up purchases of
Australian coal in February, encouraged by signs of further
policy relaxation after trade partially resumed last month
following a two-year hiatus.
* The panamax index was up 34 points, or 4.2%, at
843, posting its best day since early October 2022.
* Average daily earnings for panamaxes , which
usually carry coal or grain cargoes of about 60,000 to 70,000
tonnes, gained $308 to $7,585.
* The supramax index rose 80 points, or 11%, to 807.
The index marked its highest percentage gain in a single day, in
Refinitiv records stretching back to October 2017.
(Reporting by Harshit Verma in Bengaluru; Editing by Shilpi
Majumdar)
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