Baltic index rises for fourth day on firm capesize demand

Feb 1 (Reuters) – The Baltic Exchange’s dry bulk sea freight index (.BADI) rose for a fourth straight session on Tuesday as higher capesize rates offset losses in the panamax and supramax segments.

* The overall index, which factors in rates for capesize, panamax and supramax vessels, gained 22 points, or 1.6%, to 1,440.

* The capesize index (.BACI) rose 89 points, or 7.4%, to 1,297, its highest level in two weeks.

* Average daily earnings for capesizes, which transport 150,000-tonne cargoes such as iron ore and coal, rose by $738 to $10,753.

* The panamax index (.BPNI) eased 17 points to 1,811, its lowest since April.

* Average daily earnings for panamaxes, which ferry 60,000-70,000 tonne coal or grain cargoes, fell $158 to $16,296.

* The supramax index (.BSIS) fell 9 points to its lowest level since February 2021 at 1,578.

Reporting by Brijesh Patel in Bengaluru

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