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Baltic index gains on higher capesize rates

·1 min read

July 26 (Reuters) - The Baltic Exchange's main sea freight index rose for a fourth straight session on Monday, helped by higher demand for capesize vessels.

* The index, which factors in rates for capesize, panamax and supramax shipping vessels carrying dry bulk commodities, rose 11 points, or 0.3%, to 3,210.

* The capesize index added 35 points, or nearly 1%, to 3,950, its highest since June 29.

* Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes of iron ore, jumped by $286 to $32,755.

* Dalian and Singapore iron ore futures rebounded on Monday after a five-day slump, due to a recovery in steel margins in China, the world's biggest buyer of the steelmaking ingredient.

* The panamax index dropped 15 points, or 0.4%, to 3,513, its lowest since June 23.

* Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonnes to 70,000 tonnes, dropped by $137 to $31,619.

* The supramax index added 12 points to 2,883. (Reporting by Seher Dareen in Bengaluru; Editing by Krishna Chandra Eluri)