08-06-2016

Baltic index falls on weaker vessel demand

BI

The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk commodities, fell marginally on Tuesday hurt by weak demand across all vessel segments.

The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was down one point, or 0.16 percent, at 606 points.

The capesize index lost two points, or 0.22 percent, at 920 points.

Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were down $20 to $6,769.

The panamax index was down two points, or 0.37 percent, at 542 points.

Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, decreased $19 to $4,330.

Among smaller vessels, the supramax index fell three points to 567 points, while the handysize index fell one point to 344 points.

Source: Reuters

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