Baltic index down for 13th straight session on softer demand across vessels

Ships

The Baltic Exchange’s main sea freight index, which tracks rates for ships carrying dry bulk commodities, fell for a 13th straight session on Monday, weighed down by lower rates.

The Baltic index, which reflects rates for capesize, panamax and supramax vessels, declined 23 points, or 1.1%, to 2,108 points.

The capesize index was down 49 points, or 1.2%, to 3,903 points, also posting its 13th straight session of losses.

The average daily earnings for capesizes, which typically transports 170,000-180,000 tonne cargoes such as iron ore and coal, declined by $358 to $29,811.

The panamax index fell 35 points, or 1.7%, to 1,978 points.

Average daily earnings for panamaxes, which usually carries coal or grain cargoes of about 60,000 tonnes to 70,000 tonnes, dropped $278 to $15,831.

The supramax index fell by 2 points to 1,298 points.

Source: Reuters

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