October 25, 2019 / 1:29 PM / a month ago

Baltic index gains on rise in capesize demand

Oct 25 (Reuters) - The Baltic Exchange's main sea freight index, which tracks rates for ships ferrying dry bulk commodities, gained on Friday, helped by stronger demand for capesize vessels.

* The Baltic index, which reflects rates for capesize, panamax and supramax vessels, rose 16 points, or 0.9%, to 1,801.

* The capesize index gained 83 points, or 2.8%, to 3,009.

* The average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore and coal, rose by $833 to $24,945.

* The panamax index fell 53 points, or 3.0%, to 1,695, its lowest in more than 3 months.

* Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonne to 70,000 tonne, fell $416 to $13,596.

* The supramax index fell 13 points to 1,187. (Reporting by Shreyansi Singh in Bengaluru;)

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