Baltic index falls on lower capesize, supramax rates

The Baltic Exchange’s main sea freight index inched down on Thursday, as rates for capesize and supramax vessels declined.

 

The Baltic dry index, which tracks rates for ships ferrying dry bulk commodities and reflects rates for capesize, panamax and supramax vessels, was down by 5 points, or 0.3%, at 1,504.

 

The capesize index fell 14 points, or 0.6%, to 2,264.

 

Average daily earnings for capesizes, which typically transport cargoes of 170,000 tonnes to 180,000 tonnes including iron ore and coal, declined $121 to $18,775.

 

The panamax index edged up 3 points, or 0.2%, at 1,619, after falling for eight straight session.

 

Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonnes to 70,000 tonnes, was up $24 at $14,568.

 

The supramax index inched 2 points lower to 958.

 

Source:Reuters

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