November 28, 2019 / 3:09 PM / 8 days ago

Baltic index rises as panamaxes mark best day in over 3 months

Nov 28 (Reuters) - The Baltic Exchange’s main sea freight index rose to its highest level in three-weeks on Thursday, lifted by an improvement in shipping activity, with panamaxes posting their biggest daily percentage jump since mid-August.

* The Baltic index, which tracks rates for capesize, panamax and supramax vessels which ferry dry bulk commodities, rose 27 points, or 1.9%, to 1,467 points, its highest since Nov. 6.

* The capesize index rose 12 points, or 0.4%, to its strongest level since end-Oct at 2,995 points.

* Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore and coal, rose $310 to $22,775.

* China’s iron ore future prices rose on Thursday after Beijing announced plans to implement a series of stimulus measures to boost the economy that will help the construction sector.

* The panamax index gained 46 points, or 4.1% to 1,167 points, to register its biggest one-day percentage gain since mid-August.

* Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonnes to 70,000 tonnes, rose $358 to $9,360.

* The supramax index inched up 11 points to 807 points, registering seventh consecutive sessions of gains. (Reporting by Anjishnu Mondal and Swati Verma in Bengaluru, editing by Ed Osmond)

Nuestros Estándares:Los principios Thomson Reuters
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