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Baltic index gains for seventh-straight session on strong vessel demand

London - The capesize index rose 100 points, or 3.2%, to its highest since mid-Oct at 3,231 points.

London- The Baltic Exchange’s main sea freight index rose for a seventh consecutive session, helped by growing demand for ships across vessel segments. The Baltic index, which tracks rates for capesize, panamax and supramax vessels that ferry dry bulk commodities, rose 40 points, or 2.6%, to 1,568 points, its highest since Nov. 5. The capesize index rose 100 points, or 3.2%, to its highest since mid-Oct at 3,231 points. Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore and coal, rose $628 to $24,493.

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