March 2 (Reuters) – The Baltic Exchange’s dry bulk sea freight index (.BADI) rose for a second session on Wednesday, helped by an uptick in rates across all vessel segments.
* The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, rose 68 points, or 3.3%, to 2,137 points.
* The capesize index (.BACI) gained 150 points, or 8.9%, to 1,840 points.
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* Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, rose $1,239 to $15,258.
* Steel futures in China rose to a more than two-week high on Wednesday on expectations that the Russia-Ukraine conflict will boost demand for Chinese steel overseas.
* The panamax index (.BPNI) was up 33 points, or 1.3%, at 2,634 points.
* Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, increased $293 to $23,703.
* Among smaller vessels, the supramax index (.BSIS) added 28 points to 2,471 points.
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Reporting by Rahul Paswan in Bengaluru; Editing by Shailesh Kuber
Our Standards: The Thomson Reuters Trust Principles.
