Baltic index posts weekly gain on pickup in rates across vessels
The Baltic Exchange's main sea freight index gained on Friday, and notched a weekly rise, on stronger rates across all vessel segments.
* The Baltic dry index, which tracks rates for capesize, panamax and supramax vessels, rose by 50 points, or 4.3%, at 1,211, its highest since Nov. 30. The index rose 1.2% for the week.
* The capesize index gained 114 points, or 8.6%, at 1,434, a one-week high.
* But the index fell 5.7% this week, its worst in about a month.
* Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were up $938 at $11,889.