Jan 27 (Reuters) – The Baltic Exchange’s Dry Bulk Sea Freight Index (.BADI) ended a 14-game losing streak on Thursday as gains in capesize rates offset losses in the panamax and supramax segments .

* The overall index, which takes into account the tariffs of capesize, panamax and supramax ships, rose by 6 points to 1,302.

* The capesize index (.BACI) gained 116 points, or 16.5%, to 818, rebounding from a year-and-a-half low.

* Average daily earnings for capesizes, which carry 150,000-tonne cargo such as iron ore and coal, rose by $954 to $6,780.

* Dalian iron ore prices rose on Thursday on hopes of robust demand for the steelmaking ingredient in China when curbs on steel production are eased after the Beijing Winter Olympics this month next.

* “Most of the pressure has been short-lived as owners are reluctant to sell at current levels any longer and there is a lot of confidence in the futures market,” shipbroker Fearnleys said in a weekly note, referring to the capesize segment.

* “Another dimension is that the Chinese New Year is approaching and it is very quiet, and owners with spare tonnage just want their vessels employed because ‘nothing’ is happening.”

* The panamax index (.BPNI) fell 68 points, or 3.6%, to 1,846, its lowest since April.

* Average daily earnings for Panamaxes, which carry coal or grain cargoes of 60,000 to 70,000 tonnes, fell from $609 to $16,615.

* The supramax index (.BSIS) plunged 41 points to its lowest level since February 2021 at 1,613.

Reporting by Brijesh Patel in Bengaluru; Editing by Shinjini Ganguli

Our standards: The Thomson Reuters Trust Principles.