Firms in Fed’s Beige Book Fret Over Any Lengthy Baltimore Port Closure
(Bloomberg) — The closure of one of the East Coast’s busiest ports after the collapse of Baltimore’s Francis Scott Key Bridge has so far not led to broad price increases,...
The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, touched its highest level since November 2014. The index was up 42 points, or 3.39 percent, at 1,282 points.
The capesize index gained 138 points, or 5.56 percent, at 2,620 points.
Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were up $1,188 to $19,266.
The panamax index was up 35 points, or 2.87 percent, at 1,253 points.
Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, increased $280 to $10,066.
Among smaller vessels, the supramax index fell one point to 895 points, while the handysize index rose four points to 530 points. (Reporting by Swati Verma in Bengaluru; Editing by Anil D’Silva)
(c) Copyright Thomson Reuters 2017.
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