Baltic Index Rises to Over Two-Week High
The Baltic Exchange's dry bulk sea freight index extended gains on Thursday, reaching a more than two-week high, on stronger rates across all vessel segments.
* The main index .BADI, which monitors rates for capesize, panamax, and supramax shipping vessels, rose by 53 points to mark its highest level since April 7, at 1,353 points.
* The capesize index .BACI gained 114 points to its highest since April 8 at 1,846.
* Average daily earnings for capesize vessels .BATCA, which typically transport 150,000-ton cargoes such as iron ore and coal, rose $945 to $15,307.
* However, iron ore futures fell on a stronger supply outlook from rising shipments, although seasonal demand for the key steelmaking ingredient limited the decline. IRONORE/
* The panamax index .BPNI was up 39 points, or 2.9%, to 1,372, highest since April 4.
* Average daily earnings for panamax vessels .BPWT, which usually carry 60,000-70,000 tons of coal or grain, edged $349 higher to $12,345.
* Among smaller vessels, the supramax index .BSIS climbed to a three-week high, adding 12 points, or 1.3%, to 976.
(Reuters)
Related News
