The Baltic Exchange’s dry bulk sea freight index, which tracks rates for ships carrying dry bulk commodities, rose for a second straight session on Monday, helped by increased rates for Capesize vessels.
The overall index. BADI, which factors in rates for Capesize, Panamax, and Supramax shipping vessels, gained 2 points, or 0.1%, to 1,677.
The capesize index. BACI rose 24 points, or 1%, to 2,351.
Average daily earnings for capesize vessels. BATCA, which typically transports 150,000-ton cargoes such as iron ore and coal, was up $200 to $19,499.
Iron ore futures prices hit a two-week high, buoyed by an improved Chinese economic outlook following strong services data and continued stimulus expectations from the world’s biggest consumer.
The Panamax index. BPNI lost 8 points, or 0.5%, to 1,697, marking its lowest level over three weeks.
Average daily earnings for Panamax vessels. BPWT, which usually carries about 60,000-70,000 tons of coal or grain cargo, decreased $72 to $15,273.
Among smaller vessels is the Supramax index. BSIS was down 12 points, or 0.9%, to 1,330.
Source: XM
