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Transportation

Baltic index rises for 12th session on stronger demand across vessels

Aug 13 (Reuters) – The Baltic Exchange’s main sea freight index rose for the twelfth straight session on Thursday, helped by an uptick in demand for 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 37 points, or 2.4%, at 1,577, its highest since July 21.

* The Baltic capesize index rose 52 points, or 2.2%, to 2,384.

* Average daily earnings for capesizes, which typically transport cargoes of 170,000 tonnes to 180,000 tonnes, including iron ore and coal, were up $435 at $19,774.

* The panamax index gained 50 points, or 2.9%, to 1,797, its highest since Oct. 21.

* The index posted gains for a 12th straight session.

* Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonnes to 70,000 tonnes, rose $451 to $16,174.

* The supramax index edged up 18 points to 911. (Reporting by Shreyansi Singh in Bengaluru; editing by Uttaresh.V)

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