Baltic Index Ticks Up As Large Bulkers Post Gains

Baltic Exchange Dry Bulk Index Rises on Capesize and Panamax Rate Increases

The Baltic Exchange’s dry bulk sea freight index rose on Monday, driven by higher rates in larger vessel segments. The capesize index surged by 17 points to 1,132 points, with average daily earnings for capesize vessels increasing to $9,388. Iron ore futures also saw a rise, supported by Chinese steelmakers’ restocking expectations.

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Seanergy Maritime Announces Shake-Up of Capesize Fleet

Seanergy Maritime Holdings Corp. has announced the delivery of the capesize vessel, m/v Iconship, on a time charter with Costamare Bulkers Inc. The vessel acquisition was financed using cash and a sale and leaseback agreement. Another vessel, m/v Lordship, has also been fixed on a time charter with Costamare. CEO Stamatis Tsantanis expressed satisfaction with the new additions and strategic focus on capesize vessels.

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