Baltic index falls on softer capesize demand


The Baltic Exchange’s main sea freight index, which tracks rates for ships ferrying dry bulk commodities, fell on Thursday, weighed down by lower demand for capesize vessels.

The Baltic index, which reflects rates for capesize, panamax and supramax vessels, fell 51 points, or 2.9%, to 1,731.

The capesize index was down by 100 points, or 3.2% to 2,978 points, its lowest in a week.

Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore and coal, fell by $766 to $24,918.

The panamax index dropped for the thirteenth straight session, falling 31 points, or 2.0%, to 1,543.

Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonnes to 70,000 tonnes, fell $254 to $12,380.

The supramax index declined by 36 points to 1,091.

Source: Reuters



Comments are closed.