BDI falls for first time in over a month hurt by lower capesize rates

Seanergy-Maritime-Capesize

The Baltic Exchange’s main sea freight index tracking rates for ships carrying dry bulk commodities fell on Wednesday for the first time in slightly over a month, primarily hurt by lower capesize rates.

The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, slipped 2 points, or 0.3 percent to 669 points.

The capesize index, which has gained more than five times over the past month, fell 43 points, or about 4 percent to 1,022 points.

Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, dropped $279 to $7,745.

The panamax index inched up a point to 747 points.

Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, rose $1 to $5,948 on Wednesday.

Among smaller vessels, the supramax index rose 9 points to 543 points, and the handysize index was up 8 points at 342 points.

Source: Reuters

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