Smaller Vessels Boost Baltic Dry Index

March 9 (Reuters) – The Baltic Exchange’s principal sea freight index, which tracks charges for ships carrying dry bulk commodities, rose Monday on increased demand for smaller vessels.

The general index, which components in common every day earnings of capesize, panamax, supramax and handysize vessels, rose three factors, or 0.53 %, to 568 factors.

The panamax index was up three factors at 590 factors.

Average every day earnings for panamaxes, which often carry coal or grain cargoes of 60,000 to 70,000 tonnes, have been up $22 at $4,728.

The capesize index, which generally transport 150,000-tonne cargoes similar to iron ore and coal, was down two factors, or 0.43 %, to 468 factors. Average every day earnings for the section fell $76 to $4,692.

The supramax index climbed seven factors to 573 factors whereas the handysize index was up 4 factors at 356 factors.

Average every day earnings for supramax vessels rose $74 to $5,990, whereas earnings for handysize vessels gained $59 to $5,166. (Reporting By Nallur Sethuraman in Bengaluru, enhancing by David Evans)