March 9 (Reuters) - The Baltic Exchange's main sea freight index rose to an 11-week high on Thursday as rates across larger vessel segments
extended gains, led by capesize vessel segment.
* The overall index, which factors in rates for capesize, panamax, and
supramax shipping vessels, was up 52 points, or about 4%, at 1,379.
* The capesize index was on its 14th day of gains, rising 112
points, or 7.2%, to 1,662, also an 11-week high.
* Average daily earnings for capesizes , which typically transport
150,000-tonne cargoes such as iron ore and coal, were up $932 at $13,783.
* "Further steady climbs expected as positive macro-economical projections
combine with tight tonnage supply across the board," shipbroker Fearnleys wrote
in a weekly report, referring to the capesize segment.
* The panamax index was up 32 points, or 2%, at 1,624. It has gained
in 12 out of 13 previous sessions.
* Average daily earnings for panamaxes , which usually carry coal or
grain cargoes of about 60,000 to 70,000 tonnes, gained $292 at $14,617.
* Among smaller vessels, the supramax index rose 19 points to
1,180.
(Reporting by Harshit Verma in Bengaluru; Editing by Shailesh Kuber)
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.