The Baltic Exchange’s main sea freight index .BADI edged lower on Thursday as a decline in capesize rates overshadowed advances in the panamax segment.
- The overall index, which factors in rates for capesize, panamax and supramax shipping vessels carrying dry bulk commodities, ticked down by 7 points, or 0.6%, to 1,137.
- The capesize index .BACI fell 78 points, or 4.5%, to 1,674, declining for the third straight session.
- Average daily earnings for capesizes .BATCA, which typically transport 150,000-tonne cargoes carrying commodities such as iron ore and coal, decreased by $643 to $13,883.
- Dalian iron ore futures fell on a weak steel market and lingering woes over steel production.
- The panamax index .BPNI gained 59 points, or 4.8%, to 1,292, hitting its highest level in almost three months.
- Average daily earnings for panamaxes .BPWT, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, increased by $531 to $11,629.
- Among smaller vessels, the supramax index .BSIS inched higher by 10 points, or 1.4%, to 706.
Source: Reuters