03-06-2016

Baltic index down on weaker vessel demand

BI

The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Thursday as demand across all vessel segments fell.

The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was down six points, or 0.98 percent, at 606 points.

The capesize index lost seven points, or 0.81 percent, at 854 points.

Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were down $103 to $6,438.

The panamax index was down eight points, or 1.41 percent, at 560 points.

Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, decreased $67 to $4,476.

Among smaller vessels, the supramax index fell three points to 575 points, while the handysize index fell one point to 354 points.

Source: Reuters 

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