04-07-2017

Baltic index falls as rates for capesize, panamax decline

panamax

The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk commodities, fell for the third straight session on Monday, weighed down by weaker rates for capesize and panamax vessels.

The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was down 19 points, or 2.11 percent, at 882 points.

The capesize index shed 54 points, or 4.97 percent, at 1,032 points.

Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were down $530 to $8,393.

The panamax index fell 23 points, or 2.11 percent, at 1,068 points.

Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, decreased $183 to $8,563.

Among smaller vessels, the supramax index was down 3 points to 751 points, while the handysize index rose 1 point to 468 points.

Source: Reuters

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