Baltic index posts best week in 8 mths on strong vessel rates

Feb 11 (Reuters) – The Baltic Exchange’s dry bulk sea freight index (.BADI) rose for a fourth straight session on Friday and registered its biggest weekly gain since June 2021, supported by strong demand across vessel segments.

* The overall index, which factors in rates for capesize, panamax and supramax vessels, rose 37 points, or 1.9%, to 1,977, its highest level since Jan. 12.

* The index has risen nearly 39% this week.

* The capesize index (.BACI) eased 47 points, or 2.5%, to 1,857. However, the index gained nearly 50% this week.

* Average daily earnings for capesizes, which transport 150,000-tonne cargoes such as iron ore and coal, fell by $392 to $15,397.

* The panamax index (.BPNI) gained 70 points, or 3%, to 2,403.

* Average daily earnings for panamaxes, which ferry 60,000-70,000 tonne coal or grain cargoes, rose by $625 to $21,623.

* The supramax index (.BSIS) climbed 101 points to 2,158.

Reporting by Brijesh Patel in Bengaluru; Editing by Ramakrishnan M.

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