The Baltic Exchange’s main sea freight index, which tracks rates for ships carrying dry bulk commodities, rose for a second straight session on Tuesday as gains in the panamax segment offset losses in capesize vessels.
The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, gained 5 points, or 0.3%, to 1,901.
The panamax index gained 24 points, or about 1.7%, to reach 1,466 points. The index also registered its highest level in nearly a month.
Average daily earnings for panamax vessels, which usually carry 60,000-70,000 tons of coal or grain cargo, increased $214 to $13,190.
The capesize index dropped 7 points, or 0.2%, to 3,090 points.
Average daily earnings for capesize vessels, which typically transport 150,000-ton cargoes such as iron ore and coal, decreased $61 to $25,623.
Among smaller vessels, the supramax index edged 1 point higher to 1,266.
Source: Reuters (Reporting by Rahul Paswan in Bengaluru; Editing by Shreya Biswas)
