Capesize propels Baltic sea freight index to over 2-week peak

The Baltic Exchange's dry bulk sea freight index, which tracks rates for ships ferrying dry bulk commodities, rose to a more than two-week high on Thursday, driven by gains in the capesize segment.
 

* The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, rose 97 points, or 4.53%, to 2,239 points, the highest since April 4.
 

* The capesize index jumped 273 points, or 20%, to 1,636 points, also a peak since April 4.
 

* Average daily earnings for capesizes, which typically transport 150,000 tonne cargoes such as iron ore and coal, increased by $2,266 to $13,571.
 

* Dalian iron ore finished a wobbly trade slightly firmer on Thursday, after miner BHP Group flagged a continuing production weakness, with gains capped by COVID concerns and steel production controls in top steel producer China.
 

* The panamax index fell 40 points, or about 1.3%, to 3,047 points.
 

* Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, fell by $361 to $27,419.
 

* Jordan's state grain buyer has issued an international tender to buy 120,000 tonnes of milling wheat which can be sourced from optional origins, European traders said on Thursday.
 

* The supramax index gained 50 points to 2,646 points.

Source: Reuters

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