<\/p>\n
The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk commodities, rose to over one-year high on Friday as rates for capesize vessels surged on higher iron-ore demand.<\/p>\n
<\/p>\n
The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was up 151 points, or 8.1%, at 2,020 points, rising to its highest level since Sept. 25, 2019.<\/p>\n
<\/p>\n
The capesize index gained 450 points, or 12.7%, at 3,987 points.<\/p>\n
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Iron ore futures in China closed higher on Friday, helped by growing expectations for further policy measures to support a global economy hammered by the coronavirus pandemic.<\/p>\n
<\/p>\n
Many businesses in China have reopened after weeks of coronavirus-led shutdowns, leading to an elevated shipping demand to the top steel producer country.<\/p>\n
<\/p>\n
Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were up $3,734 to $33,066.<\/p>\n
<\/p>\n
The panamax index was up nine points, or 0.7%, at 1,373 points, but recorded its first weekly drop in three.<\/p>\n
<\/p>\n
Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, increased $80 to $12,355.<\/p>\n
<\/p>\n
Among smaller vessels, the supramax index fell one point to 991 points, while the handysize index rose one point to 593 points.<\/p>\n
<\/p>\n
<\/p>\n
<\/p>\n
(Reporting by Diptendu Lahiri; Editing by Shailesh Kuber)<\/em><\/p>\n maritime professional<\/p>\n","protected":false},"excerpt":{"rendered":" The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk commodities, rose to over one-year high on Friday as rates for capesize vessels surged on higher iron-ore demand. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was up 151 points, or 8.1%, at 2,020 …<\/p>\n","protected":false},"author":1,"featured_media":18706,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[64],"tags":[1559,1751,1560,11873,4367],"class_list":["post-18705","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-maritime-news","tag-baltic","tag-high","tag-index","tag-oneyear","tag-rises"],"_links":{"self":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts\/18705","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/comments?post=18705"}],"version-history":[{"count":0,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts\/18705\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/media\/18706"}],"wp:attachment":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/media?parent=18705"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/categories?post=18705"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/tags?post=18705"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}