Baltic index extends winning streak to 4th day on stronger vessel rates

Feb 23 (Reuters) – The Baltic Exchange’s dry bulk sea freight index (.BADI) rose for a fourth straight session on Wednesday to its highest in more than six weeks, on gains in rates across vessel segments.

* The overall index, which factors in rates for capesize, panamax and supramax vessels, rose 96 points to 2,244, its highest level since Jan. 10.

* The capesize index (.BACI) jumped 177 points, or almost 9%, to 2,192, its highest level since Jan. 11.

* Average daily earnings for capesizes, which transport 150,000-tonne cargoes such as iron ore and coal, increased by $1,472 to $18,181.

* Meanwhile, Dalian iron ore futures ended lower after a volatile daytime session as concerns about China’s regulatory environment tempered optimism about demand prospects for the steelmaking ingredient in the world’s top steel producer.

* The panamax index (.BPNI) rose 103 points to 2,699.

* Average daily earnings for panamaxes, which ferry 60,000-70,000 tonne coal or grain cargoes, gained $924 to $24,290.

* The supramax index (.BSIS) advanced 29 points to 2,388.

Reporting by Rahul Paswan in Bengaluru; Editing by Amy Caren Daniel

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