Baltic index slips as capesize rates fall
Published by Elizabeth Cope,
Editorial Assistant
Dry Bulk,
The Baltic Exchange’s main sea freight index has fallen, as a drop in rates for capesize vessels outweighed a rise in other vessel segments.
The Baltic index, which tracks rates for capesize, panamax and supramax vessels that ferry dry bulk commodities, fell seven points (0.4%) to 1551 points.
The capesize index dropped 31 points (0.9%) to 3242 points, marking its fourth straight session of losses. Average daily earnings for capesizes, which typically transport 170 000 – 180 000 t cargoes such as iron ore and coal, fell by US$259 to US$23 445.
The panamax index gained 12 points (0.9%) to 1359 points, logging its ninth consecutive session of gains. Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60 000 – 70 000 t, increased by US$100 to US$10 894.
The supramax index rose two points to 837 points, registering its 14th consecutive session of gains.
Read the article online at: https://www.drybulkmagazine.com/shipping/10122019/baltic-index-slips-as-capesize-rates-fall/
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