The Baltic Exchange’s dry bulk sea freight index, which monitors rates for vessels moving dry bulk commodities, hit a near two- month high on Wednesday, driven by gains across all vessel segments.

* The main index BDI, which factors in rates for capesize, panamax and supramax shipping vessels, rose by 44 points, or 2%, to 2,260 points, its fifth consecutive gain and the highest level since late September.

* The capesize index (.BACI) added 120 points, or 3.4%, to 3,636 points, marking its highest level in nearly two months.

* Average daily earnings for capesize vessels (.BATCA), which typically transport 150,000-ton cargoes such as iron ore and coal, increased by $994 to $30,154.

* Iron ore futures prices rose on Wednesday to their highest in more than two weeks, helped by firm demand in top consumer China and falling domestic supply.

* The panamax index (.BPNI) gained 13 points, or 0.7%, to 1,895 points.

* Average daily earnings for panamax vessels (.BPWT), which usually carry 60,000-70,000 tons of coal or grain, rose by $118 to $17,057.

* Among smaller vessels, the supramax index (.BSIS) rose 3 points, or 0.2%, to 1,430 points, up for the tenth straight session.
Source: Reuters