Please use a PC Browser to access Register-Tadawul
Baltic index posts biggest weekly gain in four months on capesize increase
Dow Jones Industrial Average DJI | 48458.05 | -0.51% |
S&P 500 index SPX | 6827.41 | -1.07% |
NASDAQ IXIC | 23195.17 | -1.69% |
July 18 (Reuters) - The Baltic Exchange's main sea freight index, which measures rates for ships carrying dry bulk commodities, jumped on Friday, posting its biggest weekly gain in over four months, supported by a steady rise in capesize vessel rates.
* The main index .BADI, which tracks rates for capesize, panamax and supramax shipping vessels, gained 22 points, or 1.1%, to 2,052 points, its highest level since September 30, 2024. The contract logged its highest weekly percentage gain since late February.
* The capesize index .BACI rose 63 points, or 2.1%, to 3,084, hitting its highest level in a month. The contract gained over 43% for the week.
* Average daily earnings for capesize vessels .BATCA, which typically transport 150,000-ton cargoes such as iron ore and coal, increased $520 to $25,575.
* Dalian iron ore futures climbed to their highest close in 4-1/2 months and logged a fourth consecutive weekly gain, as an upbeat demand outlook and hopes for further policy support from Beijing boosted market sentiment. IRONORE/
* The panamax index .BPNI fell 14 points, or 0.7%, to 1,919. However, the contract gained over 3% for the week.
* Average daily earnings for panamax vessels .BPWT, which usually carry 60,000-70,000 tons of coal or grain, lost $127 to $17,272.
* Among smaller vessels, the supramax index .BSIS added 11 points, or 0.8%, to 1,346.
(Reporting by Sherin Elizabeth Varghese in Bengaluru; Editing by Shreya Biswas)
((sherinelizabeth.varghese@thomsonreuters.com;))


