The Baltic Exchange’s dry bulk sea freight index, which monitors rates for vessels moving dry bulk commodities, edged up on Tuesday, supported by higher capesize and panamax vessel rates.

The main index, which factors in rates for capesize, panamax and supramax shipping vessels, rose 15 points to 1,947 points.

The capesize index rose 57 points to 2,885 points.

Average daily earnings for capesize vessels, which typically transport 150,000-ton cargoes such as iron ore and coal, increased by $474 to $23,927.

The panamax index snapped a seven-day losing streak, rising 11 points to 1,665 points.

Average daily earnings for panamax vessels, which usually carry 60,000-70,000 tons of coal or grain, rose by $102 to $14,988.

Among smaller vessels, the supramax index fell 18 points to 1,425 points, its lowest since August 22.
Source: Reuters