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The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk commodities, climbed on Tuesday to its highest level since mid-October last year as rates for capesize and panamax vessels extended gains.<\/p>\n
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The Baltic dry index, which tracks rates for capesize, panamax and supramax vessels, added 44 points, or 3.2% to 1,418, a peak since Oct. 16, 2020.<\/p>\n
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The capesize index was up 91 points, or 4.5%, to 2,099, its highest in more than two months.<\/p>\n
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Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, gained $752 to $17,408.<\/p>\n
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China’s iron ore futures advanced for a third straight session to a one-week high on Tuesday, as concerns over tight supply pushed spot prices of the steelmaking raw material further above $160 a tonne.<\/p>\n
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The panamax index rose 58 points, or about 4.3%, to 1,422, its highest since Dec. 17.<\/p>\n
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Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonnes to 70,000 tonnes, were up $529 to $12,801.<\/p>\n
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The supramax index edged 6 points lower to 1,022.<\/p>\n
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(Reporting by Bharat Govind Gautam in Bengaluru; editing by Uttaresh.V)<\/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, climbed on Tuesday to its highest level since mid-October last year as rates for capesize and panamax vessels extended gains. The Baltic dry index, which tracks rates for capesize, panamax and supramax vessels, added 44 points, or 3.2% to 1,418, …<\/p>\n","protected":false},"author":1,"featured_media":23972,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[64],"tags":[1559,3933,1223,1560,145,1820,4881],"class_list":["post-23971","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-maritime-news","tag-baltic","tag-buoy","tag-capesize","tag-index","tag-panamax","tag-rates","tag-rising"],"_links":{"self":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts\/23971","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=23971"}],"version-history":[{"count":0,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts\/23971\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/media\/23972"}],"wp:attachment":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/media?parent=23971"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/categories?post=23971"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/tags?post=23971"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}