The Baltic Exchange’s main sea freight index, which tracks rates for ships ferrying dry bulk commodities, extended its losing streak to a sixth straight session on Friday, dragged down by declining rates for Capesize shipping vessels.
* The overall index. BADI, which factors in rates for capesize, panamax, and supramax shipping vessels, lost 26 points, or 1.4%, to 1,808, hitting its lowest level in nearly two months. The index dropped 3.6% for the week.
* The capesize index. BACI fell 82 points, or 3%, to 2,614, its lowest level since late May.
* Average daily earnings for capesize vessels. BATCA, which typically transports 150,000-ton cargoes such as iron ore and coal, was down $687 to $21,676.
* Dalian iron ore futures snapped a three-session slide on Friday, buoyed by fresh stimulus from top consumer China, but posted a weekly loss amid concerns about demand from the ailing property sector.
* The Panamax index. BPNI was up 7 points, or 0.4%, to 1,792, marking its highest level in more than a month.
* Average daily earnings for Panamax vessels. BPWT, which usually carries about 60,000-70,000 tons of coal or grain cargo, increased from $59 to $16,125.
* Among smaller vessels is the Supramax index. BSIS was down 1 point, or 0.1%, to 1,386.
* Three ships from Russia’s Baltic Fleet will arrive in Cuba on Saturday, official media said on Thursday, the second visit by Russian naval vessels since June.
Source: XM
