The Baltic Dry Index wins for the third week in a row Ship’s crew

Reuters

March 10 (Reuters) – The Baltic Exchange’s main sea freight index, which tracks rates for ships carrying dry bulk cargo, rose for the third consecutive week, helped by higher rates for all ship segments, mainly capesizes.

* The composite index, which includes rates for capesize, panamax and supramaxshipping vessels, rose 45 points, or about 3.3%, to 1,424 on Friday, its highest level since late December 2022.

* The main index is up about 17.6% this week.

* The Capesize index rose 82 points, or around 5%, to 1,744. The index rose about 46% this week for the third consecutive month.

* Average daily earnings for capesizes, who typically haul 150,000-ton cargo such as iron ore and coal, increased $683 to $14,466.

* The Panamax Index rose 30 points, or about 1.9%, to 1,654. It also marked its third straight weekly gain, up 5.7% this week.

* Average daily earnings for panaxes, which typically haul coal or grain loads of about 60,000 to 70,000 tons, rose $267 to $14,884.

* For smaller vessels, the Supramax Index increased by 29 points to 1,209.

(Reporting by Harshit Verma in Bengaluru; Editing by Shilpi Majumdar)

(c) Copyright Thomson Reuters 2023.

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