Baltic index snaps 4-day rally on weaker rates for all vessels

Feb 2 (Reuters) – The Baltic Exchange’s dry bulk sea freight index (.BADI) snapped four straight sessions of gains on Wednesday, weighed down by lower rates across all vessel segments.

* The overall index, which factors in rates for capesize, panamax and supramax vessels, eased 21 points, or 1.5%, to 1,419.

* The capesize index (.BACI) slipped 17 points, or 1.3%, to 1,280.

* Average daily earnings for capesizes, which transport 150,000-tonne cargoes such as iron ore and coal, declined by $137 to $10,616.

* The panamax index (.BPNI) dipped 46 points, or 2.5%, to 1,765, its lowest since April.

* Average daily earnings for panamaxes, which ferry 60,000-70,000 tonne coal or grain cargoes, fell $411 to $15,885.

* The supramax index (.BSIS) fell 8 points to its lowest level since February 2021 at 1,570.

Reporting by Brijesh Patel in Bengaluru; Editing by Aditya Soni

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