23-07-2016

Baltic index falls for fourth consecutive day

Drybulk

The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk commodities, fell for the fourth straight day on Friday on weaker rates for capesize, panamax and supramax vessels.

The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was down eight points, or 1.1 percent, at 718 points.

The capesize index lost 11 points, or 1.21 percent, at 895 points.

Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were down $134 to $6,498.

The panamax index was down 23 points, or 2.71 percent, at 827 points.

Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, decreased $181 to $6,620.

Among smaller vessels, the supramax index was down three points to 698 points, while the handysize index rose four points to 383 points.

Source: Reuters 

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