The Baltic Exchange’s main sea freight index on Thursday gained after posting losses in the last three sessions, as strong gains in panamax and supramax vessel rates countered a slide in the capesize segment.
The Baltic dry index, which tracks rates for capesize, panamax and supramax vessels ferrying dry bulk commodities, rose 10 points, or 0.8%, to 1,313.
The capesize index dropped 53 points, or 4.1%, to an over two-month low of 1,243. The index slipped for a 16th consecutive session.
Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, fell $437 to $10,312.
The panamax index was up 74 points, or 4.1%, at 1,871, a peak since mid-October, 2019.
Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonnes to 70,000 tonnes, rose $666 to $16,838.
The supramax index added 22 points to 1,197, its highest level since Oct. 24, 2019.
(Reporting by Bharat Govind Gautam; Editing by Vinay Dwivedi)
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