Baltic Index Up for Fourth Consecutive Session

The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Friday supported by firmer rates for capesize vessels.

* The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, rose 12 points, or 0.84 percent, to 1,445 points.

* On a weekly basis, the index rose for a third week, gaining 3.9 percent this week.

* The capesize index climbed 39 points, or 1.8 percent, to 2,223 points.

* Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore and coal, rose by $268 to $18,244.

* The panamax index shed 3 points, or 0.2 percent, to 1,495 points.

* Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, was down $23 to $12,007.

* The supramax index inched up by 2 points to 1,091 points.

Reporting by Sumita Layek in Bengaluru