Baltic Dry Index Climbs to Highest Level of 2013

75,726 dwt, built 2006. Photo: FotoFlite/DS Norden

June 21 (Reuters) – The Baltic Exchange’s main sea freight index, which tracks rates for ships carrying dry bulk commodities, touched a high for the year on Friday, helped by rising panamax and capesize rates.

* The overall index, which factors in the average daily earnings of capesize, panamax, supramax and handysize dry bulk transport vessels, climbed 15 points, or 1.48 percent, to 1,027 points. The index rose 14 percent this week.

* The Baltic’s capesize index was up 30 points, or 1.67 percent, to 1,822 points.

* Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were up $359 at $11,064.

* The panamax index climbed 7 points, or 0.76 percent, to 927 points.

* Average daily earnings for panamaxes, which usually carry 60,000 to 70,000-tonne cargoes of coal or grains, were up $57 at $7,377. (Reporting by Shrutee Sarkar in Bangalore; Editing by David Goodman

(c) 2013 Thomson Reuters, Click For Restrictions

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