<\/p>\n
The Baltic Exchange’s main sea freight index that tracks rates for ships carrying dry bulk commodities rose for a seventh session in a row on Thursday as rates firmed across all vessel segments.<\/p>\n
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The Baltic dry index, which tracks rates for capesize, panamax and supramax vessels, added 23 points, or 1.6%, to 1,448, its highest since Oct. 16, 2020.<\/p>\n
<\/p>\n
The capesize index gained 35 points, or about 1.7%, to 2,122, its highest level 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, were up $288 to $17,598.<\/p>\n
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“This year started fairly positive with a lot of new requirements in the East, and together with the bad weather currently experienced in China, delaying discharge operations, makes the demand\/supply ratio for prompt tonnage very healthy,” Fearnleys Research said about the capesize vessel segment in a weekly note.<\/p>\n
<\/p>\n
Iron ore prices rose on Thursday, propelled by restocking demand from Chinese steel mills, with the most-active May contract on the Dalian Commodity Exchange up 3.1% at 1,062.50 yuan a tonne at the close of daytime trading.<\/p>\n
<\/p>\n
The panamax index rose by 41 points, or 2.8%, to 1,504, its highest level in over four months.<\/p>\n
<\/p>\n
Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonnes to 70,000 tonnes, gained $367 to $13,533.<\/p>\n
<\/p>\n
The supramax index inched up a point to 1,023.<\/p>\n
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<\/p>\n
<\/p>\n
(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 that tracks rates for ships carrying dry bulk commodities rose for a seventh session in a row on Thursday as rates firmed across all vessel segments. The Baltic dry index, which tracks rates for capesize, panamax and supramax vessels, added 23 points, or 1.6%, to 1,448, its highest …<\/p>\n","protected":false},"author":1,"featured_media":24097,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[64],"tags":[1559,1560,8190,14359,8218],"class_list":["post-24096","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-maritime-news","tag-baltic","tag-index","tag-session","tag-seventh","tag-straight"],"_links":{"self":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts\/24096","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=24096"}],"version-history":[{"count":0,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts\/24096\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/media\/24097"}],"wp:attachment":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/media?parent=24096"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/categories?post=24096"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/tags?post=24096"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}