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The Baltic trade and maritime exchange's dry bulk index rose for a seventh straight day on Tuesday as demand for Panamax and ultra handy ships increased.
the Baltic overall dry bulk index rose 8 points or 1.3% to 506.
The Capesize Index fell 15 points, or 9.3%, to 147.
Capesize earnings fell $20 a day to $4120. The ship usually carries 170000-180000 tons of iron ore and coal.
Panamax rose 21 points, or 3.3%, to 656.
Panamax average daily profit rose $190 to $5908. The ship usually carries 60000-70000 tons of coal or grain.
The super handy index rose 9 points to 495.
Randy giveans, Jefferies vice president of equity research, said in a report: "the dry bulk shipping market will remain weak in the first half of 2020."
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