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The Baltic Exchange’s main sea freight index surged to its highest level in nearly two months on Monday, as spot rates for capesize vessels spiked to break through the $30K/day level.
The overall Baltic Dry index (BDIY:IND), which factors in rates for capesize, panamax and supramax shipping vessels, closed +5.3% to 2,158, its highest mark since May 9, as the capesize index rallied 10.1% to 3,791, its best level since March 19.
Average daily earnings for capesize vessels were up $2,881 at $31,438, coming on the back of fixtures reported at rising rates in the Atlantic, with slower growth in the Pacific.
The panamax index fell 0.3% to 1,662, with average daily earnings for panamax vessels shedding $52 to $14,955; among smaller vessels, the supramax index dropped 1.2% to 1,369.
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