The Baltic Exchange’s main sea freight index, which measures rates for ships carrying dry bulk commodities, rose for a third straight session on Thursday, on higher rates across all vessel segments.
* The main index BBDI, which tracks rates for capesize, panamax and supramax shipping vessels, added 14 points, or 0.7%, to 2,039 points, its highest since August 8.
* The capesize index (.BACI) was up 24 points, or 0.7%, at 3,304.
* Average daily earnings for capesize vessels (.BATCA), which typically transport 150,000-ton cargoes such as iron ore and coal, rose $198 to $27,404.
* Iron ore futures slid after the Chinese government ordered the suspension of construction activity ahead of a military parade in Beijing.
* The panamax index (.BPNI) snapped a five-session losing streak, gaining 9 points, or 0.6%, to 1,603.
* Average daily earnings for panamax vessels (.BPWT), which usually carry 60,000-70,000 tons of coal or grain, rose $83 to $14,425.
* Among smaller vessels, the supramax index (.BSIS) gained 9 points, or 0.7%, to 1,345, a more than three-week high. The index registered its tenth straight session of gains.
Source: Reuters
