Baltic index edges up from 8-month low as larger vessel rates rise
Jan 4 (Reuters) - The Baltic Exchange's dry bulk sea freight
index rose on Tuesday, crawling away from a more than
eighth month low, helped by strong demand for capesize and
panamax vessels.
* The overall index, which factors in rates for capesize,
panamax and supramax vessels, gained 68 points, or 3.1%, to
2,285, snapping a 12 session losing streak.
* The capesize index rose 38 points, or 1.6%, to
2,350.
* Average daily earnings for capesizes, which transport
150,000-tonne cargoes such as iron ore and coal, increased by
$314 to $19,490.
* Dalian coking coal futures rose on Tuesday to their
highest level in more than two months as market participants
welcomed the new year, feeling optimistic about demand prospects
for the steelmaking input in top steel producer China.
* The panamax index added 301 points, or 11.7%, to
2,874.
* Average daily earnings for panamaxes, which ferry
60,000-70,000 tonne coal or grain cargoes, rose by $2,707 to
$25,865.
* The supramax index fell 81 points to its lowest
level in more than a month at 2,209.
(Reporting by Brijesh Patel in Bengaluru; Editing by Shinjini
Ganguli)
Log In Required
Line of Credit Log In Required
