Baltic Dry Index Rises to Over Two-week Peak

The Baltic Exchange's dry bulk sea freight index, which tracks rates for ships ferrying dry bulk commodities, rose to a more than two-week high on Thursday, driven by gains in the capesize segment.

The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, rose 97 points, or 4.53%, to 2,239 points, the highest since April 4.

The capesize index jumped 273 points, or 20%, to 1,636 points, also a peak since April 4.

Average daily earnings for capesizes, which typically transport 150,000 tonne cargoes such as iron ore and coal, increased by $2,266 to $13,571.

Dalian iron ore finished a wobbly trade slightly firmer on Thursday, after miner BHP Group flagged a continuing production weakness, with gains capped by COVID concerns and steel production controls in top steel producer China.

The panamax index fell 40 points, or about 1.3%, to 3,047 points.

Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, fell by $361 to $27,419.

Jordan's state grain buyer has issued an international tender to buy 120,000 tonnes of milling wheat which can be sourced from optional origins, European traders said on Thursday.

The supramax index gained 50 points to 2,646 points.

(Reuters - Reporting by Roshan Abraham in Bengaluru; Editing by Shailesh Kuber)