Baltic Index Holds Third Weekly Gain

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, rose on Friday and logged its third straight weekly gain, helped by stronger capesize and panamax vessel rates.

The main Baltic index, which tracks rates for capesize, panamax and supramax vessels, was up 65 points, or 2.37%, at 2,805 points — extending gains to its highest level since October 12

The capesize index rose 153 points, or 3.65%, to 4,344 points, hitting its highest level in nearly a month

Average daily earnings for capesize vessels, which typically transport 150,000-metric-ton cargoes, including iron ore and coal, increased by $1,382 to $35,892

This story was originally published by Maritime Professional. Read the full story at Maritime Professional →