Baltic index near two-week peak on higher capesize vessel rates

May 29 (Reuters) - The Baltic Exchange's dry bulk sea freight index, which tracks rates for ships carrying dry bulk commodities, rose on Thursday on higher rates for the capesize vessel segment.

The main index .BADI, which monitors rates for capesize, panamax and supramax shipping vessels, added 50 points, or 3.8%, to 1,353, its highest in nearly two weeks since May 16.

The capesize index .BACI was up 185 points, or 9.9%, at 2,059, its highest level since May 2.

Average daily earnings for capesize vessels .BATCA, which typically transport 150,000-ton cargoes such as iron ore and coal, rose $1,535 to $17,074.

Iron ore futures snapped a four-day losing streak on Thursday, buoyed by upbeat market sentiment after a U.S. federal court blocked President Donald Trump's tariffs from going into effect. IRONORE/

"Overall, the Forward Freight Agreements (FFAs) indicate that the market expects rates for panamax and supramax ships to remain largely stable during the rest of 2025, while capesize freight rates could firm up," Filipe Gouveia, shipping analysis manager at BIMCO, said.

The panamax index .BPNI slid 32 points, or 2.7%, to 1,137, its lowest in more than two months since March 11.

Average daily earnings for panamax vessels .BPWT, which usually carry 60,000-70,000 tons of coal or grain, receded $288 to $10,235.

Among smaller vessels, the supramax index .BSIS dipped 8 points to 956, a near four-week low.