The Baltic Exchange’s dry bulk sea freight index (.BADI) edged down on Thursday to snap a four-session winning streak, as declines in the panamax and supramax segments countered gains in capesize rates.

The overall index, which factors in rates for capesize, panamax and supramax shipping vessels carrying dry bulk commodities, was down 3 points, or about 0.2%, at 1,390,

The panamax index (.BPNI) lost 22 points, or about 1.3%, to a two-month trough at 1,619.

Average daily earnings for panamaxes (.BPWT), which usually carry coal or grain cargoes of about 60,000 tonnes to 70,000 tonnes, decreased $193 to $14,574.

The supramax index (.BSIS) shed 5 points to 1,227, the lowest since February 2021.

The capesize index (.BACI) rose 15 points, or about 0.9%, to 1,652, the highest level since Oct. 28.

Average daily earnings for capesizes (.BATCA), which typically transport 150,000-tonne cargoes such as coal and steel-making ingredient iron ore, increased $124 at $13,702.

Dalian and Singapore iron ore futures pulled back on Thursday after a seven-session rally as top steel producer China battled a rebound in COVID-19 infections, prompting traders to lock in profits.

Source: Reuters