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	<title>Best Week &#8211; Cargo News Today</title>
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		<title>Baltic Dry Index Logs Best Week in Seven Months</title>
		<link>https://cargonewstoday.com/baltic-dry-index-logs-best-week-in-seven-months/</link>
		
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		<pubDate>Mon, 19 Sep 2022 11:29:09 +0000</pubDate>
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		<category><![CDATA[Baltic Dry Index]]></category>
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					<description><![CDATA[<p>The post <a rel="nofollow" href="https://cargonewstoday.com/baltic-dry-index-logs-best-week-in-seven-months/">Baltic Dry Index Logs Best Week in Seven Months</a> appeared first on <a rel="nofollow" href="https://cargonewstoday.com">Cargo News Today</a>.</p>
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			<p>The Baltic Exchange&#8217;s main sea freight index, tracking rates for ships carrying dry bulk commodities, marked its best week in over seven months, largely driven by a 126% weekly gain in the capesize vessel segment.</p>
<p>The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, recorded its third weekly gain of about 28%, highest since mid-February.</p>
<p>However, the dry index snapped its seven-day long gaining streak, losing 59 points, or about 3.7%, on its worst day in over two weeks, to 1,553.</p>
<p>The capesize index posted a weekly gain of about 126%, its highest in over two years. However, it snapped a five-day winning streak, losing 118 points, or about 7.2%, at 1,519.</p>
<p>Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as coal and steel-making ingredient iron-ore used in construction, fell $981 to $12,599.</p>
<p>Dalian and Singapore iron ore futures fell after data showed China&#8217;s property sector contracted further in August, with a seasonal demand boost usually seen beginning September not yet in sight.</p>
<p>The panamax index posted a 6.7% weekly gain, its second consecutive weekly gain. However, it fell for the second consecutive session and was down 100 points, or about 4.8%, at 1,990.</p>
<p>Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, were down $900 at $17,913.</p>
<p>Around 82 ships with 418 seafarers remain stuck around Ukrainian ports despite the opening of a U.N.-backed sea corridor to ship grains with efforts to get the mariners sailing still stuck, shipping industry officials said on Thursday.</p>
<p>The supramax index .BSIS rose for the fourth consecutive session by 22 points to 1,551.</p>
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<p>The post <a rel="nofollow" href="https://cargonewstoday.com/baltic-dry-index-logs-best-week-in-seven-months/">Baltic Dry Index Logs Best Week in Seven Months</a> appeared first on <a rel="nofollow" href="https://cargonewstoday.com">Cargo News Today</a>.</p>
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