The Baltic Exchange’s dry bulk sea freight index, which measures shipping rates for vessels transporting dry bulk commodities, rose on Monday, driven by increases across all vessel segments.
The main index, which factors in rates for capesize, panamax and supramax shipping vessels, rose 14 points to 806 points.
The capesize index gained 9 points to 725 points.
Average daily earnings for capesize vessels, which typically transport 150,000-ton cargoes such as iron ore and coal, added $70 to $6,009.
Iron ore futures slid as concerns over cyclone-related supply disruptions eased in major supplier Australia after the reopening of local iron ore ports, though upbeat data in top consumer China curbed losses.
The panamax index rose 17 points to 997 points.
Average daily earnings for panamax vessels, which usually carry 60,000-70,000 tons of coal or grain, increased by $157 to $8,976.
Among smaller vessels, the supramax index was up 16 points at 781 points, hitting its highest since January 15. Source: Reuters
