Baltic index down on lower capesize, supramax vessel rates

The Baltic Exchange’s main sea freight index declined on Monday, with weaker demand for capesize and supramax vessels outweighing stronger rates for the panamax category.

 

The Baltic index, which tracks rates for capesize, panamax and supramax vessels to ferry dry bulk commodities, fell 4 points, or 1%, to 411.

 

The capesize index fell 20 points to a negative 254, down for the 42nd straight session.

 

Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes including iron ore and coal, lost $72 to $2,588.

 

The panamax index rose 5 points, or 0.9%, to 546.

 

Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonnes to 70,000 tonnes, increased $42 to $4,913.

 

The supramax index fell 7 points to 484.

 

Source: Reuters

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