en.Wedoany.com Reported - The Baltic Dry Index closed higher on Friday, snapping a five-session losing streak, mainly supported by stronger capesize vessel rates. The Baltic Dry Index (BDI) rose 27 points, or 0.9%, to 2,991 points. However, the index fell 5% for the week, marking its worst weekly performance since early March.

The Capesize Index (BCI) rose 120 points, or 2.5%, to 4,954 points, with the index down about 4.2% for the week. Average daily earnings for capesize vessels increased by $1,093 to $41,428. Iron ore prices were volatile on Friday, heading for a second consecutive weekly decline amid prospects of increasing supply and seasonal demand weakness, but resilient near-term demand from top buyer China limited overall losses.

The Panamax Index (BPI) fell 53 points, or 2.3%, to 2,223 points, with a weekly decline of nearly 12%. Average daily earnings for panamax vessels decreased by $481 to $20,004. Among smaller vessel categories, the Supramax Index (BSI) edged down 4 points, or 0.3%, to 1,567 points, posting a slight weekly gain of about 0.1%.

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