The Baltic Exchange’s main sea freight index rose to the highest in more than a month on Monday, as rates for all vessel segments extended their rally.
The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, was up 52 points, or about 5.9%, at 935.
The capesize index rose 65 points, or about 10.2%, to 701, marking its sixth straight session of gains.
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Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, gained $544 at $5,815.
The panamax index, up for the fifth straight session, gained 46 points, or 3.6%, at 1,317.
Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, were up $414 at $11,853.
Among smaller vessels, the supramax index rose 54 points to 1,050.