Baltic index extends gains as all vessel segments rise

The Baltic Exchange’s dry bulk freight index, which tracks rates for vessels transporting dry bulk commodities, rose for a second straight session on Monday, lifted by gains across all vessel segments.
* The main index BBDI, which tracks rates for capesize, panamax and supramax vessels, rose 83 points, or 5.3%, to 1,650, a one-week high.
* The capesize index (.BACI) added 179 points, or 8.1%, to 2,403.
* Average daily earnings for capesize vessels (.BATCA), which typically transport 150,000-ton cargoes such as iron ore and coal, increased $1,623 to $18,293.
* Iron ore futures fell to two-week lows as a raft of data from top consumer China highlighted persistent weakness in the property market, raising concerns about demand for the key steelmaking ingredient.
* The panamax index (.BPNI) gained 63 points, or 4.3%, to 1,521.
* Average daily earnings for panamax vessels (.BPWT), which usually carry 60,000 to 70,000 tons of coal or grain, increased $568 to $13,688.
* Among smaller vessels, the supramax index (.BSIS) ticked up by 3 points to 970.
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