Stronger Panamaxes Drive up Baltic Sea Freight Index

March 5 (Reuters) – The Baltic Exchange’s essential sea freight index, which tracks charges for ships carrying dry bulk commodities, made minor beneficial properties on Thursday on greater charges for the panamax and smaller vessel segments.

The general index, which elements in common every day earnings of capesize, panamax, supramax and handysize vessels, rose two factors, or 0.36 %, to 561 factors.

The panamax index was up seven factors, or 1.22 %, at 583 factors.

Average every day earnings for panamaxes, which often carry coal or grain cargoes of 60,000 to 70,000 tonnes, had been up $54 at $4,669.

The supramax index climbed 10 factors to 560 factors whereas the handysize index was up 10 factors at 348 factors.

Average every day earnings for supramax vessels rose $102 to $5,857, whereas earnings for handysize vessels gained $137 to $5,056.

The capesize index dropped 14 factors, or 2.93 %, to 464 factors.

Average every day earnings for capesizes, which usually transport 150,000-tonne cargoes reminiscent of iron ore and coal, fell $217 to $4,762. (Reporting by Vijaykumar Vedala in Bengaluru; Editing by David Goodman)