Dec 21 (Reuters) – The Baltic Exchange’s fundamental sea freight index, which tracks charges for ships carrying dry bulk commodities, inched up on Monday, helped by firmer panamax charges.

The general index rose one level, or 0.21 p.c, to 478 factors.

The index, which gauges the price of delivery cargoes together with iron ore, cement, grain and coal, and is seen by buyers as an indicator of worldwide industrial exercise, touched an all-time low of 471 factors on Dec. 16.

Chinese imports of coal and iron ore have remained weak in latest months and worries over the well being of the worldwide financial system have additionally dented dry bulk delivery prospects.

The panamax index rose 7 factors, or 1.64 p.c, to 433 factors.

Average every day earnings for panamaxes, which normally carry coal or grain cargoes of about 60,000 to 70,000 tonnes, rose $52 to $3,462.

The capesize index, fell 12 factors to 512 factors, whereas common every day earnings fell $34 to $5,156 factors. Capesizes usually transport 150,000 tonne cargoes reminiscent of iron ore and coal. (Reporting By Nallur Sethuraman in Bengaluru, enhancing by David Evans)

(c) Copyright Thomson Reuters 2015