(Reuters) — The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk commodities, on March 7 had risen for 17 straight sessions, boosted by firmer demand for panamaxes and smaller vessel segments.
The overall index that gauges the cost of shipping resources including iron ore, cement, grain, coal and fertiliser, was up five points, or 1.43 percent, at 354 points.
The index touched a record low of 290 points Feb. 10 and has climbed about 22 percent since then.
Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, rose $89 to $3,187.
