Baltic index down for seventh session on lower capesize, panamax rates


The Baltic Exchange’s main sea freight index, which tracks rates for ships ferrying dry bulk commodities, extended losses to a seventh straight session on Monday, on weaker capesize and panamax rates.

The Baltic index, which reflects rates for capesize, panamax and supramax vessels, shed 9 points, or 0.5%, to 1,846.

The capesize index was down 17 points, or 0.6%, at 3,047, its weakest in almost two weeks.

The average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore and coal, fell $86 to $25,031.

The panamax index fell 21 points, or 1.1%, to 1,819, its lowest since Oct. 8.

Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonne to 70,000 tonne, fell $165 to $14,586.

The supramax index edged 1 point lower to 1,221.

Source: Reuters



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