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Freight

Baltic index gains for 13th session on firm vessel demand

Aug 14 (Reuters) – The Baltic Exchange’s main sea freight index rose for the 13th consecutive session on Friday, driven by stronger demand across all vessel segments.

* The Baltic dry index, which tracks rates for ships ferrying dry bulk commodities and reflects rates for capesize, panamax and supramax vessels, was up 18 points, or 1.1%, at 1,595, its highest since July 20.

* The index posted its third consecutive weekly gain, rising 6.3%.

* The Baltic capesize index rose 18 points, or 0.8%, to 2,402.

* Average daily earnings for capesizes, which typically transport cargoes of 170,000 tonnes to 180,000 tonnes, including iron ore and coal, were up $142 at $19,916.

* The panamax index gained 27 points, or 1.5%, to 1,824, its highest since Oct. 18.

* The index rose for the third straight week, gaining 16.7%.

* Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonnes to 70,000 tonnes, rose $241 to $16,415.

* The supramax index edged up 16 points to 927. (Reporting by Shreyansi Singh in Bengaluru; Editing by Krishna Chandra Eluri)

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