The Baltic Exchange’s dry bulk sea freight index, which tracks rates for ships carrying dry bulk commodities, hit its highest level since late March, driven by strong demand across capesize and panamax vessel segments. The main index, which monitors rates for capesize, panamax and supramax shipping vessels, was up 137 points, or 9.2%, at 1,626 – its highest since March 26. The index was up for a seventh straight session. The capesize index added 364 points, or 14.7%, to 2,845, its highest since March 14. Average daily earnings for capesize vessels, which typically transport 150,000-ton cargoes such as iron ore and coal, firmed $3,016 to $23,592. Iron ore futures dipped, as the focus shifted back to softening steel consumption in top consumer China’s off-peak demand season. The panamax index gained 66 points, or 5.8%, to 1,211, a near two-week high. Average daily earnings for panamax vessels, which usually carry 60,000-70,000 tons of coal or grain, were up $592 at $10,899. Among smaller vessels, the supramax index lost 4 points, to 936 points, its lowest since April 14 Source: Reuters