The Baltic Exchange’s main sea freight index, which tracks rates for ships ferrying dry bulk commodities, snapped its five-session losing streak on Wednesday, helped by higher rates across all vessel segments.
* The overall index. BADI, which factors in rates for capesize, panamax, and supramax shipping vessels, gained 45 points, or 2.4%, to 1,939.
* The capesize index .BACI rose 96 points, or 3.1%, to 3,215.
* Average daily earnings for capesize vessels .BATCA, which typically transport 150,000-ton cargoes, such as iron ore and coal, were up $797 at $26,666.
* Steel prices in China fell to a more than three-month low on Wednesday, hurt by poor demand due to a weak construction sector in the world’s biggest consumer of the metal alloy.
* The panamax index .BPNI rose 43 points, or about 2.8%, to 1,579.
* Average daily earnings for panamax vessels. BPWT, which usually carries about 60,000-70,000 tons of coal or grain cargo, increased $389 to $14,209.
* Among smaller vessels, the supramax index. BSIS edged up 6 points, or 0.5%, to 1,353.
Source: XM
