January 24, 2018 / 2:27 PM / 3 months ago

Strong capesize, panamax rates push Baltic index higher

Jan 24 (Reuters) - The Baltic Exchange’s main sea freight index rose on Wednesday for the third straight session, supported by firmer rates for capesize and panamax vessels.

* The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, gained 43 points, or 3.72 percent, at 1,200 points.

* The capesize index climbed 151 points, or 9.9 percent, at 1,676 points.

* Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were up $1,273 to $13,421.

* The panamax index rose 52 points, or 3.7 percent, at 1,456 points.

* Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, increased $407 to $11,669.

* Among smaller vessels, the supramax index was down 3 points to 908 points, while the handysize index also fell 2 points to 584 points. (Reporting by Karen Rodrigues in Bengaluru; Editing by Anil D’Silva)

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