August 16, 2019 / 1:36 PM / a month ago

Baltic index nudges up, posts best week in six

Aug 16 (Reuters) - The Baltic Exchange’s main sea freight index rose on Friday, on track for its best week in six, buoyed by stronger demand across all categories of vessels.

* The Baltic index, which tracks rates for ships ferrying dry bulk commodities, rose 41 points, or 2.0%, to 2,088 points.

* The main index also posted a 19.5% weekly increase, its best since the week ended July 5 and snapping a three-week long streak of losses.

* The capesize index gained 59 points, or 1.6%, to 3,826 points. The index posted its first weekly gain in four, up about 18.7%.

* Average daily earnings for capesizes, which typically transport 170,000 tonne-180,000 tonne cargoes such as iron ore and coal, rose $522 to $29,624.

* The panamax index gained 19 points, or 0.9%, to 2,169 points. The index has risen 14.3% this week.

* Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonnes to 70,000 tonnes, rose $161 to $17,359.

* U.S. soybean exports of 270,400 metric tonnes were up 63% from the previous week and 57% from the prior 4-week average, according to USDA data.

* The supramax index was up 48 points at 1,118 points. (Reporting by Shreyansi Singh in Bengaluru;)

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