Baltic index snaps 3-day losing streak on capesize demand
July 18 (Reuters) -The Baltic Exchange's main sea freight index, which tracks rates for ships ferrying dry bulk commodities, snapped a three-session losing streak on Thursday, helped by higher rates for capesize vessels.
* The overall index .BADI, which factors in rates for capesize, panamax and supramax shipping vessels, gained 22 points, or 1.2%, to 1,912.
* The capesize index .BACI rose 67 points, or 2.3%, to 3,007, the first daily percentage gain since July 12.
* Average daily earnings for capesize vessels .BATCA, which typically transport 150,000-ton cargoes, such as iron ore and coal, were up $562 at $24,941.
* The panamax index .BPNI was up 1 point, or 0.1%, to 1,714.
* Average daily earnings for panamax vessels .BPWT, which usually carry about 60,000-70,000 tons of coal or grain cargo, increased $8 to $15,423.
* "Container freight rates have recently shown signs of a near-term peak on the Asia-USWC route and signs of further softness are underway," Jefferies analysts wrote in a note.
* Among smaller vessels, the supramax index .BSIS was unchanged at 1,370.
* Meanwhile, Russia shipped its first grain from a new terminal at the Baltic Sea port of Ust-Luga, the Russian agricultural watchdog told Reuters, as the country seeks to diversify its grain export routes.
Reporting by Anushree Mukherjee in Bengaluru; Editing by Vijay Kishore
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