dry bulk ship

Improved Rates Across Most Vessel Segments Lifts Baltic Index Towards 400

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March 15, 2016

ReutersMarch 15 (Reuters) – The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk commodities were up on Tuesday supported by improved demand across all vessel segments, apart from panamaxes which remained flat.

The overall index that factors in the rates for capesize, panamax, supramax and handysize shipping vessels, was up three points, or 0.76 percent, to 396 points.

The panamax index remained unchanged at 481 points.

Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, fell $2 to $3,859.

The capesize index rose seven points, or 3.91 percent, to 186 points.

Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, rose $53 to $2,211.

Among smaller vessels, the supramax index gained five points to 432 points, and the handysize index was up three points at 255 points. (Reporting by Swati Verma in Bengaluru)

(c) Copyright Thomson Reuters 2016.

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