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The Baltic Exchange’s main sea freight index tracking rates for ships ferrying dry bulk commodities scaled an over one-year peak on Monday, propelled by higher rates across vessel segments, with panamax rates touching an over 10-year high.
The Baltic dry index, which tracks rates for capesize, panamax and supramax vessels, rose 38 points, or 1.7%, to 2,319, its highest since September 2019.
The capesize index advanced 38 points, or 1.6%, to 2,382.
Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as coal and steel-making ingredient iron ore, rose $314 to $19,751.
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