March 2, 2020 / 2:57 PM / a month ago

Baltic index edges up on firm panamax, supramax rates

March 2 (Reuters) - The Baltic Exchange’s main sea freight index inched up on Monday, helped by strong demand for panamax and supramax vessels.

* The Baltic index, which tracks rates for capesize, panamax and supramax vessels that ferry dry bulk commodities, edged up 4 points to 539, its highest since Jan. 27.

* The capesize index slipped further by 20 points to -348, its lowest on record.

* Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes including iron ore and coal, declined by $102 to $2,172.

* The panamax index rose 10 points, or 1.1%, to 915, registering its 18th straight session of gains.

* Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000-70,000 tonnes, increased by $85 to $8,232.

* The supramax index gained 15 points to 621. (Reporting by Brijesh Patel in Bengaluru; Editing by Sherry Jacob-Phillips)

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