The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk commodities, rose to a one-week high on Monday as capesize vessels segment logged its biggest single-day gain since mid-December.

The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, was up 14 points, or about 2.3%, at 616.

The capesize index gained 48 points, or about 9.9%, to 534, hitting a two-week high.

Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, gained $399 to $4,432.

The panamax index (.BPNI) fell 1 point to 863 points.

Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, were down $15 at $7,764.

The supramax index was down 3 points at 625 points.

Source: Reuters