{"id":52809,"date":"2024-12-07T03:30:51","date_gmt":"2024-12-07T00:30:51","guid":{"rendered":"https:\/\/www.al-sindbad.net\/baltic-index-snaps-losing-streak-on-larger-vessel-rate-rise\/52809\/"},"modified":"2024-12-07T03:30:51","modified_gmt":"2024-12-07T00:30:51","slug":"baltic-index-snaps-losing-streak-on-larger-vessel-rate-rise","status":"publish","type":"post","link":"https:\/\/www.al-sindbad.net\/baltic-index-snaps-losing-streak-on-larger-vessel-rate-rise\/52809\/","title":{"rendered":"Baltic Index Snaps Losing Streak on Larger Vessel Rate Rise"},"content":{"rendered":"

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\n Anmol Choubey<\/span>
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\n December 6, 2024<\/span>
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\n A bulk carrier loads alongside a grain berth. (c) Stock87 \/ Adobestock \n <\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/div>\n

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The Baltic Exchange’s dry bulk sea freight index, which tracks rates for ships carrying dry bulk commodities, snapped a seven-session losing streak on Friday, supported by gains in larger vessels.<\/em><\/strong><\/p>\n

The index .BADI, which factors in rates for capesize, panamax and supramax shipping vessels, gained 7 points to 1,167 points, but the index was down over 13% for the week.<\/p>\n

The capesize index .BACI edged up 5 points to 1,535 points. The contract posted about 28% decline for the week. Average daily earnings for capesize vessels, which typically transport 150,000-ton cargoes such as iron ore and coal, increased by $37 to $12,727.<\/p>\n

Iron ore futures prices slid and headed for a weekly loss on Friday, as the wave of restocking for seaborne cargoes from steelmakers in top consumer China receded and high portside stocks as well as falling steel margins weighed.<\/p>\n

* The panamax index rose 27 points to 1,067 points, recording a weekly gain of 4.8%. Average daily earnings for panamax vessels, which usually carry 60,000-70,000 tons of coal or grain cargo, rose $242 to $9,606.<\/p>\n

* Among smaller vessels, the supramax index edged down 5 points to 974 points.<\/p>\n<\/p><\/div>\n<\/div>\n

maritime professional<\/p>\n","protected":false},"excerpt":{"rendered":"

Anmol Choubey December 6, 2024 A bulk carrier loads alongside a grain berth. (c) Stock87 \/ Adobestock The Baltic Exchange’s dry bulk sea freight index, which tracks rates for ships carrying dry bulk commodities, snapped a seven-session losing streak on Friday, supported by gains in larger vessels. The index .BADI, which …<\/p>\n","protected":false},"author":1,"featured_media":52810,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[64],"tags":[],"class_list":["post-52809","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-maritime-news"],"_links":{"self":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts\/52809","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/comments?post=52809"}],"version-history":[{"count":0,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/posts\/52809\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/media\/52810"}],"wp:attachment":[{"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/media?parent=52809"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/categories?post=52809"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.al-sindbad.net\/rest\/wp\/v2\/tags?post=52809"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}