Stronger demand across vessels lifts Baltic index to over 1-month high

Dec 6 (Reuters) – The Baltic Exchange’s dry bulk sea freight index rose to an over one-month high on Monday, buoyed by strengthened rates across all its vessel segments.

* The overall index (.BADI), which factors in rates for capesize, panamax and supramax vessels, added 64 points, or 2%, to 3,235, a peak since Nov. 1.

* The capesize index (.BACI) advanced 105 points, or 2.3%, to its highest in nearly a month-and-a-half at 4,699.

* Average daily earnings for capesizes, which transport 150,000-tonne cargoes such as iron ore and coal, increased by $874 to $38,970.

* Dalian and Singapore iron ore futures rose, on hopes a monetary policy easing in China could curb the downside risks being faced by the world’s biggest steel producer and consumer, but gains were capped by steel output control fears.

* The panamax index (.BPNI) gained 84 points, or 2.7%, at 3,212, its eleventh straight session of gains.

* Average daily earnings for panamaxes, which carry 60,000-70,000 tonne coal or grain cargoes, increased by $750 to $28,904.

* The supramax index (.BSIS) rose 21 points to 2,452, its highest level since Nov. 4.

Reporting by Kavya Guduru in Bengaluru

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