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Transportation

Baltic index rises on robust vessel demand

Aug 12 (Reuters) – The Baltic Exchange’s main sea freight index gained on Wednesday, as vessel demand across segments rose.

* The Baltic dry index, which tracks rates for ships ferrying dry bulk commodities and reflects rates for capesize, panamax and supramax vessels, was up 30 points, or 2%, at 1,540, its highest since July 21.

* The Baltic capesize index rose 16 points, or 0.7%, to 2,332.

* Average daily earnings for capesizes, which typically transport cargoes of 170,000 tonnes to 180,000 tonnes, including iron ore and coal, were up $135 at $19,339.

* The panamax index gained 76 points, or 4.6%, to 1,747, its highest since Oct. 24.

* The index posted gains for an 11th straight session.

* Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonnes to 70,000 tonnes, rose $682 to $15,723.

* The supramax index edged up 14 points to 893. (Reporting by Shreyansi Singh in Bengaluru; Editing by Vinay Dwivedi)

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