Reuters reported that the Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry commodities, rose on Monday on higher rates for smaller Panamax vessels.

The overall index rose 0.91%to 883 points.

The Panamax index rose 8.19%to 647 points, with average daily earnings up USD 386 at USD 5,155. Panamaxes typically transport 60,000-70,000 tonne cargoes of coal or grain.

The Baltic's Capesize index fell 0.57% to 1,921 points. Average daily earnings for capesizes, which usually transport 150,000 tonne cargoes such as iron ore and coal, were down USD 65 at USD 11,172.

Average daily earnings for Handysize ships were down by USD 4 at USD 6,531, while those of Supramax ships were down by USD 44 at USD 8,271

Source - Reuters

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