Baltic index logs best day in a year on strong demand for vessels

Feb 9 (Reuters) – The Baltic Exchange’s dry bulk sea freight index (.BADI) posted its biggest daily percentage gain since February 2021, boosted by stronger rates across vessel segments.

* The overall index, which factors in rates for capesize, panamax and supramax vessels, rose 208 points, or 13.8%, to 1,711 — its highest level since Jan. 17.

* The capesize index (.BACI) jumped 301 points, or 25%, to 1,503, its highest level since Jan. 14.

* Average daily earnings for capesizes, which transport 150,000-tonne cargoes such as iron ore and coal, increased by $2,499 to $12,468.

* The panamax index (.BPNI) gained 182 points, or 9.2%, at 2,153.

* Average daily earnings for panamaxes, which ferry 60,000-70,000 tonne coal or grain cargoes, rose by $1,637 to $19,377.

* The supramax index (.BSIS) rose 177 points to 1,911.

Reporting by Brijesh Patel in Bengaluru; editing by Uttaresh.V

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