May 17 (Reuters) - The Baltic Exchange's main sea freight index recorded its worst week in seven, weighed down by weaker demand across vessel segments. However, an uptick in capesize vessel rates helped snap a six-session losing streak on Friday.
- The overall index .BADI , which factors in rates for capesize, panamax and supramax shipping vessels, edged up 27 points, or 1.49%, to 1,844 points.
- On a weekly basis, the index has fallen 13.4%.
- The capesize index .BACI gained 117 points, or 4.57%, to 2,675, but registered a weekly decline of 18%.
- Average daily earnings for capesize vessels .BATCA , which typically transports 150,000-ton cargoes such as iron ore and coal, increased by $962 to $22,180.
- Iron ore futures surged to their highest level in over a week on Friday and were on track for a weekly gain, buoyed by robust consumption and a brighter demand forecast in China, due to its recent property stimulus measures.
- The panamax index .BPNI was down by 20 points, or about 1.08%, to 1,825, marking its lowest level since April 17. The contract was down about 10% for the week.
- Average daily earnings for panamax vessels .BPWT , which usually carries about 60,000-70,000 tons of coal or grain cargo, declined $175 to $16,427.
- Among smaller vessels, the supramax index .BSIS was down by 20 points to 1,405.
