Baltic index flat after gaining for nine straight sessions


The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk commodities, was flat on Monday, as gains across capesize vessels were offset by lower rates for panamaxes.

The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was unchanged at 977 points, after gaining for nine straight sessions.

The capesize index climbed 17 points, or 1.47 percent, to 1,171 points.

Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were up $45 at $9,215.
The panamax index fell 10 points, or 0.79 percent, to 1,248 points.

Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, decreased $81 to $9,999.

Among smaller vessels, the supramax index rose 2 points to 814 points, while the handysize index rose 1 point to 500 points.

Source: Reuters 

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