The Baltic Exchange’s dry bulk sea freight index rose on Friday, buoyed by gains across the capesize vessel segment.
The index, which factors in rates for capesize, panamax and supramax shipping vessels, gained 44 points to 1,495 points.
The capesize index rose 154 points to 2,316 points.
Average daily earnings for capesize vessels, which typically transport 150,000-ton cargoes such as iron ore and coal, increased by $1,280 to $19,210.
Iron ore futures slid as investors adopted a cautious stance amid continuously falling demand.
The panamax index lost 2 points to 1,176 points.
Average daily earnings for panamax vessels, which usually carry 60,000-70,000 tons of coal or grain cargo, fell by $13 to $10,586.
Among smaller vessels, the supramax index lost 19 points to 1,079 points.
Source: Reuters (Reporting by Anjana Anil in Bengaluru; Editing by Shreya Biswas)
