Supply Chain Council of European Union |

Baltic index rises for eighth straight session

Feb 25 (Reuters) – The Baltic Exchange’s main sea freight index inched higher on Tuesday, marking its eighth straight session gain, as higher rates for panamax and supramax vessels outweighed lower capesize rates.

* The Baltic index, which tracks rates for capesize, panamax and supramax vessels that ferry dry bulk commodities, rose 2 points, or 0.4%, to 508 points

* The capesize index fell 39 points to -278 points

* Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes including iron ore and coal, declined by $218 to $2,475.

* The panamax index climbed 19 points, or 2.3%, to 830 points and registered its 14th straight session of gains

* Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000-70,000 tonnes, increased $165 to $7,467

* The supramax index rose 18 points to 561 (Reporting by Harshith Aranya in Bengaluru)

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