The Baltic Exchange’s dry bulk sea freight index (.BADI), tracking rates for ships carrying dry bulk commodities, rose on Monday, on higher rates for capesize and panamax vessel segments.
The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, rose 5 points, or about 0.3%, to 1,843.
The capesize index (.BACI) rose 20 points, or 0.92%, to 2,186.
Average daily earnings for capesizes (.BATCA), which typically transport 150,000-tonne cargoes such as coal and steel-making ingredi-ent iron ore used in construction, were up $168 to $18,133.
Meanwhile, iron ore futures and most ferrous metals in top steel producer China fell, extending losses a day after President Xi Jinping reiterated the effectiveness of his zero-COVID policy at the opening of the ruling Communist Party Congress.
The panamax index (.BPNI) snapped a five-session falling streak, adding 7 points, or about 0.3%, to 2,088.
Average daily earnings for panamaxes (.BPWT), which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, rose $67 to $18,796.
