The Baltic Exchange’s dry bulk sea freight index BADI, which tracks rates for ships carrying dry bulk commodities, declined on Friday after four consecutive days of gains, hurt by lower rates for panamax vessels. The overall index BADI, which factors in rates for capesize, panamax and supramax shipping vessels, lost 6 points, or 0.3%, to 1,762.
However, the index has risen 4.2% for this week, its best week since May 10.
The panamax index.BPNI slipped 30 points, or 2.1%, to 1.414 points. Average daily earnings for panamax vessels BPWT, which usually carries about 60.000- 70.000 tons of coal or grain cargo, decreased $272 to $12.724.
Iron ore futures prices fell on Friday as a continuous fall in near-term China demand sparked renewed caution among investors. Meanwhile, the capesize index BACI gained 4 points to 2.851. Average daily earnings for capesize vessels. BATCA, which typically transport 150.000-ton cargoes such as iron ore and coal, edged up $37 to $23.645.
Among smaller vessels, the supramax index. BSIS was up 5 points at 1.318 points.
Source: Reuters (Reporting by Brijesh Patel in Bengaluru: Editing by Vijay Kishore)
