Baltic index slips as capesize rates fall
Published by Elizabeth Cope,
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/
You might also like
Spiroflow and Cablevey deliver bespoke conveying system to Oat Co.
Spiroflow and Cablevey Conveyors, operating as part of Automated Handling Solutions, recently collaborated to provide Scottish oats producer, Oat Co., with a bespoke conveyor system.