The Baltic Exchange’s main sea freight index .BADI, tracking rates for ships carrying dry bulk commodities, rose on Monday, aided by firm capesize rates, reports Hot Copper.
- The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, snapped a two-session losing streak after rising by 36 points, or 2.1%, to 1,737.
- The capesize index .BACI added 136 points, or 5.5%, to hit 2,610- its highest level in nearly five-months.
- Average daily earnings for capesize vessels .BATCA , which typically transports 150,000-tonne cargoes carrying commodities such as iron ore and coal, increased $1,125 to $21,645.
- The Dalian Commodity Exchange and the Shanghai Futures Exchange will be closed from Sept. 29 to Oct. 8 for public holidays in China, the bourses said.
- The panamax index .BPNI edged down by 17 points, to 1,684.
- Average daily earnings for panamax vessels .BPWT , which usually carries about 60,000 to 70,000 tonnes of coal or grain cargo, decreased $146 to $15,159.
- Among smaller vessels, the supramax index .BSIS declined by 13 points to 1,263.
- Five more ships are on their way to Ukrainian sea ports using a new corridor opened to resume predominantly agricultural exports, an alternative arrangement to the Black Sea grain deal blocked by Russia, a top Ukrainian official said on Sunday.
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Source: Hot Copper
