Baltic index hits near 3-week peak on higher rates across vessels

Feb 8 (Reuters) – The Baltic Exchange’s dry bulk sea freight index (.BADI) rose to a near three-week high on Tuesday, helped by strong demand across all its vessel segments.

* The overall index, which factors in rates for capesize, panamax and supramax vessels, rose 81 points, or 5.7%, to 1,503, its highest level since Jan. 19.

* The capesize index (.BACI) climbed 54 points, or 4.7%, to 1,202.

* Average daily earnings for capesizes, which transport 150,000-tonne cargoes such as iron ore and coal, increased by $448 to $9,969.

* The panamax index (.BPNI) gained 116 points, or 6.3%, at 1,971.

* Average daily earnings for panamaxes, which ferry 60,000-70,000 tonne coal or grain cargoes, rose by $1,046 to $17,740.

* The supramax index (.BSIS) rose 96 points to 1,734.

Reporting by Brijesh Patel in Bengaluru; Editing by Amy Caren Daniel

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