The Baltic Exchange’s main sea freight index, which tracks rates for ships ferrying dry bulk commodities, rose on Wednesday as higher capesize rates offset a decline in panamax and supramax rates.
The Baltic index, which reflects rates for capesize, panamax and supramax vessels, was up 11 points, or 0.8%, at 1,365 points.
The capesize index climbed 80 points, or 3.2%, to 2,565 points.
Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore and coal, rose $636 to $20,669.
The panamax index slipped 37 points, or 3.1%, to 1,170 points, extending losses to a 22nd straight session, its longest losing streak since January.
Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonnes to 70,000 tonnes, fell $302 to $9,394.
The supramax index fell 16 points to 758.
Source: Reuters (Reporting by Asha Sistla in Bengaluru)
