Baltic Index gains on stronger rates across all segments
The Baltic Exchange's dry bulk freight index rose on Monday, helped by stronger rates across all segments. The main index rose 29 points, or 0.8%, to 3,399 points. The capesize index rose 71 points, or 1.2%, to 5,839 points, with average daily earnings for capesize vessels increasing by $638 to $49,450. The panamax index rose 4 points, or 0.18%, to 2,255 points, with average daily earnings for panamax vessels gaining $35 to $20,297. The supramax index inched up 4 points, or 0.2%, at 1,771.
Sept 21 (Reuters) — The Baltic Exchange's dry bulk freight index rose on Monday, helped by stronger rates across all segments. 8%, to 3,399 points. 2%, to 5,839 points. Average daily earnings for capesize vessels, which typically transport 150,000-ton cargoes, including iron ore and coal, increased by $638 to $49,450.
Iron ore futures nudged higher, supported by expectations that Chinese steel mills will increase raw material purchases ahead of the Golden Week holiday, although gains were capped by higher port inventories. 18%, to 2,255 points. Average daily earnings for panamax vessels, which usually carry 60,000 to 70,000 tons of coal or grain, gained $35 to $20,297. 2%, at 1,771.
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