The Baltic Exchange’s dry bulk sea freight index, BADI, which tracks rates for ships carrying dry bulk commodities, rose to its highest in close to four weeks, propelled by gains in Capesize vessels.
* The overall index. BADI, which factors in rates for Capesize, Panamax, and Supramax shipping vessels, added 9 points, or 0.5%, to 1,768, its highest since July 29.
* The capesize index. BACI gained 59 points, or about 2.1%, to 2,847, its highest since July 23.
* Average daily earnings for Capesize vessels. BATCA, which typically transports 150,000-ton cargoes such as iron ore and coal, increased $486 to $23,608.
* Dalian iron ore futures extended their climb, aided by top consumer China’s support for its property sector and rising margins among steelmakers. However, caution from the remaining fragile fundamentals capped gains.
* The Panamax index. BPNI dropped 43 points, or 2.9%, to 1,444 points.
* Average daily earnings for Panamax vessels. BPWT, which usually carries about 60,000-70,000 tons of coal or grain cargo, decreased $386 to $12,996.
* Among smaller vessels is the Supramax index. BSIS was up 3 points at 1,313 points.
Source: XM
