Baltic index down for third straight day


Baltic index down for third straight day

The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk commodities, fell for the third straight day on Wednesday on lower rates across all vessel segments.

The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was down 20 points, or 2.04 percent, at 960 points.

The capesize index fell 42 points, or 2.57 percent, to 1,590 points.

Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were down $377 at $11,737.

The panamax index dropped 31 points, or 3.24 percent, to 925 points.

Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, decreased $248 to $7,445.

Among smaller vessels, the supramax index was down 7 points at 771 points, while the handysize index fell 2 points to 505 points.

Source: Reuters (Reporting by Apeksha Nair in Bengaluru; Editing by Martina D’Couto)

Source from : Dry Bulk Market,International Shipping News