Baltic index at near one-month high on firm capesize demand

The Baltic Exchange's dry bulk sea freight index BBDI rose to its highest level in almost a month on Wednesday, helped by stronger rates for capesize vessels.

* The overall index, which factors in rates for capesize, panamax and supramax shipping vessels carrying dry bulk commodities, rose 33 points, or about 2.5%, to 1,373, its highest since Nov. 10.

* The capesize index (.BACI) gained 95 points, or 6.2%, to 1,635, its biggest daily percentage gain in nearly two weeks.

* Average daily earnings for capesize (.BATCA), which typically transport 150,000-tonne cargoes such as coal and steel-making ingredient iron ore, increased $787 to $13,561.

* The panamax index (.BPNI) was up 2 points at 1,659, extending its gain for a 10th straight session.

* Average daily earnings for panamaxes (.BPWT), which usually carry coal or grain cargoes of about 60,000 tonnes to 70,000 tonnes, increased $23 to $14,935.

* The supramax index (.BSIS) remained flat at 1,158.

* Iron ore futures extended losses as China's worse-than-expected trade data for November dampened enthusiasm about a major shift in Beijing's COVID-19 containment policy.