The Baltic Exchange’s dry bulk sea freight index BADI eased from a more than one-month peak hit in the last session, as rates across larger vessels slipped on Friday.
The overall index.BADI, which factors in rates for capesize, panamax and supramax shipping vessels, dropped 13 points or 0.7% at 1.814 points. However, the index was headed for a monthly gain and has added about 7% so far.
*The capesize index BACI slipped 20 points, or 0.6%, to 3,099 points but was on its way to its best month since May.
* Average daily earnings for capesize vessels.BATCA, which typically transport 150.000-ton cargoes, such as iron ore and coal, decreased $170 to $25.700.
*The panamax index BPNI slipped 15 points to 1,316 points. The contract was headed for its worst month since May 2023.
*Average daily earnings for panamax vessels BPWT, which usually carry about 60.000-70,000 tons of coal or grain cargo, decreased $132 to $11.843.
*Meanwhile, prices of iron ore futures fell on Friday, weighed by persistently sliding near-term demand and higher stocks in top producer China, but were headed for a second straight week of gains.
*Among smaller vessels, the supramax index.BSIS was down 6 points at 1,306.
Source: Reuters (Reporting by Rahul Paswan in Bengaluru: Editing by Vijay Kishore)
