The Baltic Exchange’s dry bulk sea freight index, which monitors rates for vessels moving dry bulk commodities, snapped a six-day losing streak on Monday, buoyed by stronger capesize vessel rates.

The main index, which factors in rates for capesize, panamax and supramax shipping vessels, rose 31 points to 1,932 points.

The capesize index rose 104 points to 2,828 points.

Average daily earnings for capesize vessels, which typically transport 150,000-ton cargoes such as iron ore and coal, increased by $858 to $23,453.

Meanwhile, the panamax index extended losses, dropping eight points to 1,654 points, its lowest since August 19.

Average daily earnings for panamax vessels, which usually carry 60,000-70,000 tons of coal or grain, fell by $75 to $14,886.

Among smaller vessels, the supramax index slipped for its seventh consecutive session, down four points at 1,443 points.
Source: Reuters