The Baltic Exchange’s dry bulk sea freight index BADI, which tracks rates for ships carrying dry bulk commodities, rose to its highest level in more than a month on Thursday, buoyed by a jump in the capesize vessel segment.
The overall index BADI, which factors in rates for capesize, panamax and supramax shipping vessels, was up 72 points at 1.827. hitting its highest since late July.
*The capesize index BACI jumped 236 points, or 8.2%, to 3.119 points. The index hit its highest since mid-July.
*Average daily earnings for capesize vessels BATCA, which typically transport 150.000-ton cargoes, such as iron ore and coal, increased $1,962 to $25.870.
*The panamax index BPNI slipped 19 points to 1.331 points.
Average daily earnings for panamax vessels BPWT, which usually carry about 60.000-70,000 tons of coal or grain cargo, decreased $179 to $11.975.
*Meanwhile, iron ore futures rose on renewed hopes of improving demand in top consumer China in the coming weeks, but concerns over high inventories and the extent of recovery in downstream steel demand capped gains.
*Among smaller vessels, the supramax index.BSIS was down 4 points at 1.312. Source: Reuters (Reporting by Rahul Paswan in Bengaluru: Editing by Shreya Biswas)
