The Baltic Exchange’s main sea freight index, which tracks rates for vessels transporting dry bulk commodities, rose for a third consecutive session on Friday, steered by gains in the capesize and supramax segments.
* The main index BDI, which tracks rates for capesize, panamax and supramax shipping vessels, added 43 points, or 2.1%, to 2,051 points. The index posted a weekly gain.
* The capesize index (.BACI) was up 138 points, or 4.3%, at 3,343, highest level since late July.
* Average daily earnings for capesize vessels (.BATCA), which typically transport 150,000-ton cargoes such as iron ore and coal, rose $1,140 to $27,716.
* Iron ore futures edged lower for the day but logged a weekly gain, supported by China’s record-high steel exports, robust mill margins, and low inventories.
* Among smaller vessels, the supramax index (.BSIS) added 3 points, or 0.2%, to 1,320. The index registered its sixth straight session of gains.
* The panamax index (.BPNI) was down 14 points, or 0.9%, at 1,635.
* Average daily earnings for panamax vessels (.BPWT), which usually carry 60,000-70,000 tons of coal or grain, fell $133 to $14,712. Source: Reuters
