Baltic index steady as higher panamax rates offset capesize dip
Jan 5 (Reuters) - The Baltic Exchange's dry bulk sea freight
index was little changed on Wednesday, as higher rates
for panamax vessels countered a dip in the capesize and supramax
segments.
* The overall index, which factors in rates for capesize,
panamax and supramax vessels, rose by 4 points to 2,289.
* The capesize index fell 49 points, or 2.1%, to
2,301, its lowest level since late-March, 2021.
* Average daily earnings for capesizes, which transport
150,000-tonne cargoes such as iron ore and coal, decreased by
$406 to $19,084.
* Iron ore futures rose on Wednesday as restocking demand in
China propelled spot prices of the steelmaking ingredient to the
highest in more than a week, despite renewed steel production
controls in Tangshan city .
* The panamax index gained 129 points, or 4.5%, at
3,003.
* Average daily earnings for panamaxes, which ferry
60,000-70,000 tonne coal or grain cargoes, rose by $1,158 to
$27,865.
* The supramax index slipped 44 points to its lowest
level in more than a month at 2,165.
(Reporting by Brijesh Patel in Bengaluru; Editing by Amy Caren
Daniel)
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