The Baltic Exchange’s dry bulk sea freight index, which tracks rates for ships carrying dry bulk commodities, rose for a fifth consecutive session on Friday, aided by firm capesize and panamax vessel rates.
The index, which factors in rates for capesize, panamax and supramax shipping vessels, gained 43 points to 1,072 points.
The capesize index was up 114 points to 1,375 points.
Average daily earnings for capesize vessels, which typically transport 150,000-ton cargoes such as iron ore and coal, increased by $948 to $11,407.
Meanwhile, the most-traded May iron ore contract on China’s Dalian Commodity Exchange (DCE) ended daytime trade 2.18% lower at 764 yuan ($104.66) a ton, mainly dragged down by seasonally diminishing demand for the key steelmaking ingredient.
The panamax index rose 40 points to 1,040 points, the highest since Dec. 11.
Average daily earnings for panamax vessels, which usually carry 60,000-70,000 tons of coal or grain cargo, rose $353 to $9,358.
Among smaller vessels, the supramax index slipped 15 points to 884 points, falling for a sixteenth straight session.
Source: Reuters
