The Baltic Exchange’s Main Sea Freight Index.BADI, tracking rates for ships carrying dry bulk commodities, rose on Monday, aided by firm capesize rates.
The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, snapped a two-session losing streak after rising by 36 points, or 2.1%, to 1,737.
The capesize index added 136 points, or 5.5%, to hit 2,610- its highest level in nearly five months.
Average daily earnings for capesize vessels, which typically transport 150,000-tonne cargoes carrying commodities such as iron ore and coal, increased from $1,125 to $21,645.
The Dalian Commodity Exchange and the Shanghai Futures Exchange will be closed from Sept. 29 to Oct. 8 for public holidays in China.
The panamax index edged down by 17 points to 1,684.
Average daily earnings for panamax vessels, which usually carry about 60,000 to 70,000 tonnes of coal or grain cargo, decreased by $146 to $15,159.
Among smaller vessels, the supramax index declined by 13 points to 1,263.
Source: Hellenic Shipping News
