Baltic dry bulk index flat as vessel rates remain steady

Increase in bauxite orders from China to drive surge in capesize bulker demand, shipping exec claims
Bulk carrierAdhira Shipping and Logistics
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The Baltic Exchange's dry bulk sea freight index was unchanged on Monday as vessel rates across all segments held steady.

The main index was flat at 2,069 points.

The Capesize index rose seven points, or 0.2 per cent, to 3,128 points, its highest in a week. Average daily earnings for Capesize vessels increased by $62 to $25,944.

Iron ore futures prices fell on Monday, as a batch of downbeat data in top consumer China sparked concerns over demand prospects for the key steelmaking ingredient.

The Panamax index rose for its tenth straight session, adding two points to 1,829 points. Average daily earnings for Panamax vessels rose by $14 to $16,460.

Among smaller vessels, the supramax index fell six points to 1,422 points.

(Reporting by Pablo Sinha in Bengaluru; Editing by Tasim Zahid)

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