Baltic index inches down on weaker demand across vessels


The Baltic Exchange’s main sea freight index, tracking rates for ships ferrying dry bulk commodities, edged down on Monday, hurt by lower demand across vessel segments.

* The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, snapped two straight sessions of gains and lost 8 points, or 0.8 percent, to 1,023 points.

* The capesize index dipped 0.66 percent, or 7 points, to 1,050 points.

* Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore and coal, declined by $82 to $8,722.

* The panamax index fell 16 points, or 1.1 percent, to 1,437 points, its lowest since Aug. 15.

* Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonnes to 70,000 tonnes, decreased by $125 to $11,497.

The supramax index eased 5 points to 964 points.

Source: Reuters



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