off-the-wire

Baltic index rises on firm demand for large shipping vessels

Kitco Media
By Reuters
Published:
Updated:
Reuters
April 3 (Reuters) - The Baltic Exchange's main sea freight index , tracking rates for ships carrying dry bulk commodities, rose on Monday buoyed by higher rates for capesize and panamax vessel segments.
* The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, gained 23 points, or about 1.7%, to 1,412 - its biggest daily percentage rise since March 23.


* The capesize index added 58 points, or about 3.5%, to 1,723.
* Average daily earnings for capesizes , which typically transport 150,000-tonne cargoes carrying commodities such as iron ore and coal, increased $484 to $14,290.
* The panamax index gained 29 points, or about 1.8%, to its highest since March 20 at 1,664.
* Average daily earnings for panamaxes , which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, increased $254 to $14,972.


* Among smaller vessels, the supramax index lost 11 points to 1,187. (Reporting by Ananya Bajpai in Bengaluru; Editing by Shweta Agarwal)

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