The Baltic Exchange’s dry bulk freight index increased on Friday for the second day in a row, driven by stronger capesize rates, though the index recorded an 8.1% decline for the week.
The main Baltic index, which measures rates for capesize, panamax and supramax vessels, added 8 points, or 0.3%, to reach 3,148 points.
The capesize index climbed 32 points, or 0.6%, to 5,042 points, marking its second straight daily gain. The index posted a 12.8% loss for the week.
Average daily earnings for capesize vessels, which typically carry 150,000-ton cargoes of iron ore and coal, increased $296 to $42,228.
The panamax index dropped 7 points, or 0.3%, to 2,372 points. The index fell 1.5% for the week.
Average daily earnings for panamax vessels, which usually transport 60,000 to 70,000 tons of coal or grain, decreased $58 to $21,349.
Source: Investing.com
