
Soaring Capesize Rates Push Baltic Index Past 1,000
March 7 (Reuters)– The Baltic Exchange’s primary sea products index, monitoring prices for ship s bring completely dry mass assets, shut at a 12-week high up on Tuesday on more powerful prices throughout all vessel sectors, particularly capesizes.
The total index, which likewise consider prices for panamax, supramax and also handysize ship ping vessels, wound up 54 factors, or 5.52 percent, at 1,033 factors.
The capesize index rose 211 factors, or 15.69 percent, to finish at a six-week high of 1,556 factors.
Average everyday revenues for capesizes, which commonly transfer 150,000-tonne freights such as iron ore and also coal, were up $1,427 to $11,866.
The panamax index closed 40 factors, or 3.47 percent, at 1,194 factors.
Average everyday revenues for panamaxes, which generally bring coal or grain freights of concerning 60,000 to 70,000 tonnes, boosted $321 to $9,592.
Among smaller sized vessels, the supramax index increased 9 indicate end up at 861 factors, while the handysize index increased 9 indicate end up at 477 factors. (Reporting by Nithin Prasad in Bengaluru; Editing by Savio D’Souza)
( c) Copyright Thomson Reuters 2017.