Baltic dry index hits one-month high on capesize strength
July 16 (Reuters) - The Baltic Exchange's main sea freight index, which measures rates for ships carrying dry bulk commodities, rose on Wednesday to a one-month high, supported by a strong uptick in capesize vessel rates.
The main index .BADI, which tracks rates for capesize, panamax and supramax shipping vessels, gained 40 points, or 2.1%, to 1,906 points, its highest level since June 17.
The capesize index .BACI rose 109 points, or 4.3%, to 2,642.
Average daily earnings for capesize vessels .BATCA, which typically transport 150,000-ton cargoes such as iron ore and coal, increased $905 to $21,908.
Iron ore futures climbed, buoyed by strengthening ties between top producer Australia and leading consumer China, though gains were capped by concerns over persistent weakness in China's property sector. IRONORE/
The panamax index .BPNI fell 23 points, or 1.2%, to 1,967. The contract snapped a nine session winning streak.
Average daily earnings for panamax vessels .BPWT, which usually carry 60,000-70,000 tons of coal or grain, lost $214 to $17,700.
Among smaller vessels, the supramax index .BSIS added 28 points, or 2.2%, to 1,315.
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