Baltic Dry Index Breaks 400

dry bulk ship
The Index has been on the rise since hitting its all-time low of 290 points on Feb. 10, 2016, but was struggling to break 400 in recent sessions. Photo credit: Shutterstock/tcly

ReutersMarch 23 (Reuters) – The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Wednesday, supported by firmer rates across vessel segments.

The overall index that factors in the rates for capesize, panamax, supramax and handysize shipping vessels, was up three points to 401 points.

The capesize index rose 10 points or 5.38 percent to 196 points.

Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were up $11 to $2,005.

The panamax index was up three points at 458 points.

Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, rose $29 to $3,673.

Among smaller vessels, the supramax index rose four points to 468 points, while the handysize index was up two points at 266 points. (Reporting by Apeksha Nair in Bengaluru)

(c) Copyright Thomson Reuters 2016.