Weaker demand across vessels drags Baltic index

Asia Dry Bulk-Capesize

The Baltic Exchange’s main sea freight index fell on Tuesday for a fourth straight session because of lower demand across vessel categories.

The Baltic index, which tracks rates for ships ferrying dry bulk commodities, fell 29 points, or 1.2%, to 2,393 points.

The capesize index dropped 50 points, or 1%, to 4,794 points.

Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore and coal, fell $457 to $35,664.

The panamax index fell 30 points, or 1.4%, to 2,161 points.

Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonnes to 70,000 tonnes, fell $241 to $17,315.

The supramax index edged down 11 points to 1,319.

Source: Reuters

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