Baltic index inches up as rates across vessel segments rise

Feb 3 (Reuters) – The Baltic Exchange’s dry bulk sea freight index (.BADI) rose on Thursday, buoyed by an uptick in rates across vessel segments.

* The overall index, which factors in rates for capesize, panamax and supramax vessels, rose 6 points, or 0.4%, to 1,425.

* The capesize index (.BACI) gained 11 points, or 0.9%, to 1,291.

* Average daily earnings for capesizes, which transport 150,000-tonne cargoes such as iron ore and coal, rose by $94 to $10,710.

* “The Chinese New Year and the celebration of the Tiger has put a lid on activity levels, but expectations are positive for the near future when the holiday comes to an end,” shipbroker Fearnleys said in a weekly note, referring to the capesize segment.

* The panamax index (.BPNI) edged 6 points higher to 1,771, ending a seven-session losing streak.

* Average daily earnings for panamaxes, which ferry 60,000-70,000 tonne coal or grain cargoes, increased by $54 to $15,939.

* The supramax index (.BSIS) registered its first gain since Dec. 13, rising by 1 point to 1,571.

Reporting by Brijesh Patel in Bengaluru;
Editing by Vinay Dwivedi

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