Baltic index up at 24th session with strong capesize, supramax rates
The maritime freight index of the Baltic Stock Exchange rose on Wednesday at the 24th session, with a moderate increase in capesize and supramax rates.
* The Baltic dry cargo index, which follows the rates of dry cargo ships and is based on capesize, panamax and supramax ships, rose by 4 points.
* The index has increased by 65.4% so far this year. The recovery in iron ore demand from China eased the coronavirus-related deadlocks.
* In a private business investigation, China's factory operations grew faster in June, after the Chinese government lifted coronavirus measures and increased support steps.
* Baltic capesize index dropped 87 points.
* However, the average daily earnings increased for capesizes, which typically ship from 170,000 tons to 180,000 tons, including iron ore and coal.
* Average daily earnings for panamaxes with a load of about 60,000 tons to 70,000 tons of coal or grain have fallen.
* Supramax index increased by 3 points.
