Baltic dry index snaps 3-session losing streak on capesize strength

The Baltic Exchange's dry bulk sea freight index, which tracks rates for ships carrying dry bulk commodities, rose on Thursday, breaking a three-session losing streak on the back of stronger demand in the capesize segment.

* The main index BBDI, which monitors rates for capesize, panamax and supramax shipping vessels, gained 4 points, or 0.3%, to 1,341.

* The capesize index (.BACI) was up 27 points, or 1.5%, at 1,882.

* Average daily earnings for capesize vessels (.BATCA), which typically transport 150,000-ton cargoes such as iron ore and coal, gained $222 to $15,605.

* "The market appears to still expect capesize rates to strengthen over the rest of the year, peaking in the fourth quarter of 2025," Filipe Gouveia, shipping analysis manager at BIMCO, said.

* Prices of Dalian iron ore futures traded within a thin range as investors weighed resilient demand for the steelmaking ingredient in top consumer China against rising shipments from leading producers Australia and Brazil.

* The panamax index (.BPNI) lost 17 points , or 1.3%, to 1,269.

* Average daily earnings for panamax vessels (.BPWT), which usually carry 60,000-70,000 tons of coal or grain, receded $153 to $11,419.

* Among smaller vessels, the supramax index (.BSIS) was down 2 points at 986.