The Baltic Exchange’s main sea freight index, which measures rates for ships carrying dry bulk commodities, edged up on Wednesday, on higher rates for capesize and supramax vessel segments.
* The main index BBDI, which tracks rates for capesize, panamax and supramax shipping vessels, added 8 points, or 0.4%, to 2,025 points, its highest since August 8.
* The capesize index (.BACI) was up 19 points, or 0.6%, at 3,280.
* Average daily earnings for capesize vessels (.BATCA), which typically transport 150,000-ton cargoes such as iron ore and coal, rose $158 to $27,206.
* Dalian iron ore futures closed little changed, as investors grappled with reports of steel production curbs in northern China ahead of a military parade and signs of tightening global supply.
* Among smaller vessels, the supramax index (.BSIS) added 7 points, or 0.5%, to 1,336. The index registered its ninth straight session of gains.
* The panamax index (.BPNI) extended losses for a fifth straight session, down 1 point, or 0.1%, at 1,594. The index hit its lowest level since July 8.
* Average daily earnings for panamax vessels (.BPWT), which usually carry 60,000-70,000 tons of coal or grain, fell $17 to $14,342.
Source: Reuters