The Baltic Exchange’s dry bulk sea freight index. BADI, which tracks rates for ships carrying dry bulk commodities, rose on Wednesday as the capesize vessel segment climbed.
The overall index. BADI, which factors in rates for capesize, panamax and supramax shipping vessels, added 34 points to 1.755.
The capesize index BACI jumped 128 points to 2,883 points.
Average daily earnings for capesize vessels. BATCA, which typically transport 150.000-ton cargoes such as iron ore and coal, increased 1.062 to 23,908.
The panamax index BPNI slipped 31 points to 1.350 points.
Average daily earnings for panamax vessels BPWT, which usually carry about 60,000-70.000 tons of coal or grain cargo, decreased $278 to $12.154.
Meanwhile, prices of iron ore futures pulled back from nearly three-week highs as investors turned cautious ahead of this week’s data that could help gauge whether steel demand in top consumer China has shown signs of recovery.
Among smaller vessels, the supramax index. BSIS was down 1 point at 1.316 points.
Source: Reuters (Reporting by Rahul Paswan in Bengaluru: Editing by Shreya Biswas)
