August 23, 2019 / 2:10 PM / a month ago

Baltic index extends gains on robust capesize demand

Aug 23 (Reuters) - The Baltic Exchange’s main sea freight index rose on Friday, notching up a second straight weekly gain, propelled by stronger capesize rates.

* The Baltic index, which tracks rates for ships ferrying dry bulk commodities, rose 50 points, or 2.4%, to 2,168, its highest since July 22.

* The main index also posted a 3.8% weekly increase, gaining for a second straight week.

* The capesize index jumped 162 points, or 4.2%, to 3,991, its highest in more than a month.

* The index posted its second weekly gain, up about 4.3%.

* Average daily earnings for capesizes, which typically transport 170,000 tonne-180,000 tonne cargoes such as iron ore and coal, rose $947 to $30,437.

* The panamax index gained 15 points, or 0.7%, to 2,196. The index has risen 1.2% this week.

* Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonnes to 70,000 tonnes, rose $127 to $17,583.

* The supramax index was up 29 points at 1,249. (Reporting by Shreyansi Singh in Bengaluru;)

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