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


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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