Baltic index snaps three-day losing streak on capesize demand

The Baltic Exchange’s dry bulk sea freight index .BADI, tracking rates for ships carrying dry bulk commodities, snapped a three-session losing streak on Tuesday, helped by higher rates for capesize vessels.

* The overall index .BADI, which factors in rates for capesize, panamax and supramax shipping vessels, rose 15 points, or 0.9%, to 1,670.

* The capesize index .BACI gained 64 points, or 2.3%, to 2,477, hitting its highest level in 2 weeks.

* Average daily earnings for capesize vessels .BATCA, which typically transport 150,000-ton cargoes, such as iron ore and coal, increased $532 to $20,540.

* Singapore iron ore futures prices fell for a second session on Tuesday to hit their lowest in nearly two weeks, as faltering demand amid steel output cuts in top consumer China outweighed support from some short-covering activities.IRONORE/

* The panamax index .BPNI lost 21 points, or 1.3%, to 1,563, its lowest level in over a month.

* Average daily earnings for panamax vessels .BPWT, which usually carries about 60,000-70,000 tons of coal or grain cargo, decreased $189 to $14,068.

* Among smaller vessels, the supramax index .BSIS was down 2 points, or 0.2%, at 1,292.
Source: Reuters (Reporting by Anushree Mukherjee in Bengaluru; Editing by Vijay Kishore)