By Jason Bourne of US Scrap Corner
LONDON (US Scrap Corner): The main sea freight index at London-based Baltic Exchange was advance
on Wednesday, Aug 20, primarily supported by a stronger capesize index.
Baltic provides daily freight market prices and maritime shipping cost indices
which are used to settle freight futures.
A sharp rise in capesize index was drive the overall index at Baltic up about
21 points to 1,061 points on August 20 of this year. Baltic overall index is
the average daily earnings of capesize, panamax, supramax and handysize dry
bulk transport vessels.
The capesize rate which was advance about 124 points to reach 2,380 points, its
best since April 2nd of this year. Capesize vessels are typically above 150,000
long tons deadweight and ships in this class include bulk carriers transporting
coal, ore, and other commodity raw materials.
By Jason Bourne of US Scrap Corner
LONDON (US Scrap Corner): The main sea freight index at London-based Baltic Exchange was advance on Wednesday, Aug 20, primarily supported by a stronger capesize index.
Baltic provides daily freight market prices and maritime shipping cost indices which are used to settle freight futures.
A sharp rise in capesize index was drive the overall index at Baltic up about 21 points to 1,061 points on August 20 of this year. Baltic overall index is the average daily earnings of capesize, panamax, supramax and handysize dry bulk transport vessels.
The capesize rate which was advance about 124 points to reach 2,380 points, its best since April 2nd of this year. Capesize vessels are typically above 150,000 long tons deadweight and ships in this class include bulk carriers transporting coal, ore, and other commodity raw materials.
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