April 1 (Reuters) – The Baltic Exchange’s primary sea freight index, monitoring charges for ships carrying dry bulk commodities, prolonged beneficial properties on Friday, helped by increased charges for greater vessels.

The total index, which elements in charges for capesize, panamax, supramax and handysize delivery vessels, jumped 21 factors or about 5 p.c to 450 factors. The index has gained about 55 p.c since touching its lowest of 290 factors on Feb. 10.

Seasonal energy in demand could proceed to drive freight charges reasonably increased by way of the second quarter, the Singapore Exchange (SGX) mentioned in its month-to-month freight report.

“The South American grains season has started to support rates for smaller vessel classes in recent weeks, while stronger iron ore shipments may also boost Capesize rates in the near-term,” the SGX report mentioned.

The capesize index gained 75 factors, or about 28 p.c, to 345 factors.

Average every day earnings for capesizes, which usually transport 150,000-tonne cargoes comparable to iron ore and coal, have been up $495 to $3,013 on Friday.

The panamax index was up 34 factors, or about 7 p.c at 535 factors, its highest to this point this yr.

Average every day earnings for panamaxes, which often carry coal or grain cargoes of about 60,000 to 70,000 tonnes, rose $267 to $4,275. (Reporting by Apeksha Nair in Bengaluru)

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