Ports and Shipping - WORLDWIDE SHIPPING INDUSTRY - Baltic index extends gains on Capesize, Panamax demand.
The Baltic Exchange's main sea freight index rose on Wednesday, driven by demand for capesize and panamax vessels.
The Baltic index, which tracks rates for ships ferrying dry bulk commodities, rose 2.6 percent, or 53 points, to 2,064, its highest since January 2014. The index has surged about 60 percent this year.
The index extended gains for a seventh straight session, mainly driven by strong demand for vessels that ship iron ore from Brazil.
A restart of Vale SA's Brucutu mine in Brazil that was shut in early February after a tailings dam burst, has prompted increased demand from the country.
The capesize index rose 127 points, or 3.2...
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