Baltic index logs weekly gain on capesize demand

Kitco Media
By Reuters
Published:
Updated:
Reuters
April 21 (Reuters) - The Baltic Exchange's main sea freight index climbed up for a third session on Friday, ending the week higher on stronger capesize vessel rates.


* The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, jumped 72 points, or 5%, to 1,504.
* The main index was up 4.8% for the week.
* The capesize index climbed 184 points, or 10.4%, to 1,962, and gained 6.1% this week.
* Average daily earnings for capesizes , which typically transport 150,000-tonne cargoes carrying commodities such as iron ore and coal, increased $1,524 to $16,270.
* The panamax index rose 15 points, or 1%, to 1,692. The index, however, lost 0.6% this week.


* Average daily earnings for panamaxes , which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, increased $131 to $15,225.
* Among smaller vessels, the supramax index rose 22 points to 1,201.
* Meanwhile, Dalian and Singapore iron ore futures fell for a third straight session to near four-month lows, as subdued buying interest from steel mills and a pick-up in port inventories undermined investor sentiment. (Reporting by Rahul Paswan in Bengaluru; Editing by Shilpi Majumdar)

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