The Baltic Exchange's main dry bulk sea freight index extended its rally on Tuesday, rising about 5% to its highest in 13 years, steered by strong gains in capesize rates, and helped by demand for smaller vessels.The overall index, which factors in rates for capesize, panamax, supramax and handysize vessels, jumped 245 points, or 5.2%, to 4,962, its highest since September 2008.
The Baltic Exchange's dry bulk sea freight index slipped on Monday, as a decline in capesize rates offset gains in smaller vessel segments, although the main index held close to a 13-year high.The overall index, which factors in rates for capesize, panamax, supramax and handysize vessels, fell for a second straight session, by 38 points or 0.7%, to 5,488.
Finland-based marine equipment and technology firm Wärtsilä has sold Wärtsilä Tank Control Systems business to Svanehøj, a Danish gas pump specialist involved in the design and manufacture of specialized deep well pump solutions within the areas of gas pumps, fuel pumps, products and chemicals, and offshore products.