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Baltic Index gains on rising panamax rates

Aug 5 (Reuters) – The Baltic Exchange’s main sea freight index inched up on Wednesday, as higher rates for panamax vessels offset losses in capesize and supramax segment rates.

* The Baltic dry index, which tracks rates for ships ferrying dry bulk commodities and reflects rates for capesize, panamax and supramax vessels, was up 12 points, or 0.8%, at 1,475.

* The Baltic capesize index fell 36 points, or 1.4%, to 2,458.

* Average daily earnings for capesizes, which typically transport cargoes of 170,000 tonnes to 180,000 tonnes, including iron ore and coal, were down $304 at $20,383.

* The panamax index gained 94 points, or 7.1%, at 1,410, it’s highest since July 21.

* Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonnes to 70,000 tonnes, rose $853 to $12,693.

* The supramax index edged down 7 points to 844. (Reporting by Diptendu Lahiri in Bengaluru; Editing by Krishna Chandra Eluri)

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