The Baltic Exchange’s main sea freightindex rose to a near five-month high on Tuesday, as rates rose for all vessel segments.
* The overallindex, which factors in rates for capesize, panamax and supramax shipping vessels, rose 108 points, or 3.8%, to 2,939 points, the highest since Dec. 13.
* The capesizeindex.BACIrose 276 points, or 8.7%, to 3,461 points.
* Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, increased $2,291 to $28,703.
* Meanwhile, Chinese iron ore futures dropped to 7% on Tuesday to touch their lowest in nearly two months, fueled by concerns of higher interest rates and still-stagnant demand at home./
* The panamaxindex.BPNIgained 44 points, or 1.4%, to 3,277 points.
* Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, rose $398 to $29,491.
* The supramaxindex.BSISwas up 14 points at 2,746 points.
