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Baltic index rises on firmer capesize, supramax need – Agricultural Commodities

June 29 (Reuters) – The Baltic Exchange’s most important sea freight index rose on Monday, helped by increased charges for capesize vessels and a slight uptick in supramax vessel prices.

* The Baltic dry index, which tracks prices for ships ferrying dry bulk commodities and reflects rates for capesize, panamax and supramax vessels, attained 45 points, or 2.6%, to 1,794.

* The index rose 12.5% very last week, marking its sixth consecutive 7 days of gains.

* The index has surged 60% so considerably this year and has cancelled out losses triggered by the coronavirus pandemic that hurt world wide trade and demand from customers for vessels.

* The Baltic capesize index attained 106 factors, or 2.5%, to 4,325.

* Normal every day earnings for capesizes, which typically transportation cargoes of 170,000 tonnes to 180,000 tonnes, which include iron ore and coal, rose by $1,137 to $30,778.

* The supramax index edged 1 level increased to 679.

* The panamax index was unchanged at 1,256 factors a higher given that Dec. 19.

* Typical day-to-day earnings for panamaxes, which typically carry coal or grain cargoes of about 60,000 tonnes to 70,000 tonnes, was up by $1 at $11,307. (Reporting by Nakul Iyer in Bengaluru Modifying by Ramakrishnan M.)

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