Higher rates across vessels propel Baltic index to more than 1-month peak

Feb 21 (Reuters) – The Baltic Exchange’s dry bulk sea freight index (.BADI) rose to a more than one-month high on Monday, boosted by a jump in rates across vessel segments.

* The overall index, which factors in rates for capesize, panamax and supramax vessels, rose 81 points, or 4.1%, to 2,045, its highest level since Jan. 11.

* The capesize index (.BACI) jumped 174 points, or 10.4%, to 1,849.

* Average daily earnings for capesizes, which transport 150,000-tonne cargoes such as iron ore and coal, rose by $1,443 to $15,331.

* Chinese coking coal futures surged more than 5% as supply remained relatively low and demand was expected to recover following the Lunar New Year holidays and the Winter Olympics.

* The panamax index (.BPNI) edged up 66 points to 2,441.

* Average daily earnings for panamaxes, which ferry 60,000-70,000 tonne coal or grain cargoes, gained $594 to $21,969.

* The supramax index (.BSIS) advanced 17 points to 2,342.

Reporting by Rahul Paswan in Bengaluru; Editing by Jan Harvey

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