February 8, 2018 / 2:44 PM / 17 days ago

Baltic index rises for third day on higher capesize rates

Feb 8 (Reuters) - The Baltic Exchange’s main sea freight index inched up for the third straight session on Thursday as higher capesize rates offset weakness across all other vessel segments.

* The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels that ferry dry bulk commodities, was up 9 points, or 0.82 percent, at 1,106 points.

* The capesize index gained 84 points, or 5.32 percent, at 1,662 points.

* Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, rose $737 to $13,208.

* The panamax index dropped 30 points, or 2.32 percent, to 1,263 points. It was down for the ninth straight session.

* Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, dropped $237 to $10,134.

* Among smaller vessels, the supramax index eased 11 points to 833 points, and the handysize index shed 3 points to 529 points. (Reporting by Swati Verma in Bengaluru)

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