The Baltic Exchange’s dry bulk sea freight index .BADI jumped by more than 10% on Monday to register its best day in 18 months, propelled by gains in the capesize vessel segment.
The overall index .BADI, which factors in rates for capesize, panamax and supramax shipping vessels, rose by 228 points or 13.5% at 1,919 points, its highest since July 16.
The capesize index .BACI climbed 711 points, or 28%, to 3,248 points, hitting 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 $5,898 to $26,935.
The panamax index .BPNI dipped 247 points to 1,305 points and continued its losing streak to touch its lowest in more than a year.
Average daily earnings for panamax vessels .BPWT, which usually carry about 60,000-70,000 tons of coal or grain cargo, decreased $95 to $11,748.
Dalian ore futures prices logged their steepest daily fall in almost two years on Monday, weighed down by a batch of economic data from top consumer China.
Among smaller vessels, the supramax index .BSIS was down 17 points at 1,289.
Source: Reuters
