Baltic index rises on stronger rates for larger vessels

Date: Jan 26, 2018
The Baltic Exchange’s main sea freight index, which tracks rates for ships carrying dry bulk commodities, rose on Thursday on higher rates for capesizes and panamax vessels.

The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was up 17 points, or 1.42 percent, at 1,217 points.

The capesize index gained 76 points, or 4.53 percent, at 1,752 points.

“Capesize rates are edging higher yet again … as the Pacific market continues to come alive,” said analysts at shipbroker Clarksons Platou Securities.

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