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Baltic index rises on higher capesize rates

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·1 min read
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March 18 (Reuters) - The Baltic Exchange's main sea freight index rose on Wednesday, after seven straight sessions of losses, on stronger demand for capesize vessels.

* The Baltic index, which tracks rates for capesize, panamax and supramax vessels that ferry dry bulk commodities, gained 17 points, or 2.8% to 629.

* The capesize index was up by 85 points at -204, its highest since Feb. 6.

* Average daily earnings for capesizes, which typically transport 170,000 tonnes-180,000 tonnes cargoes including iron ore and coal, rose by $707 to $3,507.

* The panamax index fell 44 points, or 4.7%, to 886, posting its biggest decline since Feb. 3.

* Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonnes-70,000 tonnes, decreased by $392 to $7,975.

* The supramax index inched 1 point higher to 755. (Reporting by Nakul Iyer in Bengaluru; editing by Uttaresh.V)