Baltic Exchange’s main sea freight index , tracking rates for ships carrying dry bulk commodities, rose on Friday bolstered by firmer rates across vessel segments.

The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, was up 80 points, or 2.5%, at 3,255 points. The index was up 1.2% for the week.

The capesize index gained 126 points, or 3.3%, at 3,987 points, but was down 1% for the week, its first dip in three weeks.

Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, increased $1,051 to $33,069.

Chinese steel and iron ore futures rose on Friday, while coking coal and coke both gained nearly 5% against a backdrop of strong demand at mills and supply tightness.

The panamax index was up 127 points, or 3.6%, at 3,642 points. The index was up 2.8% for the week, its fourth straight weekly gain.

Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, rose $1,135 to $32,774.

Among smaller vessels, the supramax index rose 13 points to 2,877 points.
Source: Reuters (Reporting by Eileen Soreng in Bengaluru)