Baltic index down on weak capesize demand


The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Friday due to lower rates for capesize vessels.

The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was down 11 points, or 1.84 percent, at 587 points.

The capesize index lost 49 points, or 5.02 percent, at 927 points.

Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were down $405 to $6,533.

The panamax index was up one point, or 0.18 percent, at 546 points.

Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, increased $9 to $4,361.

Among smaller vessels, the supramax index rose one point to 555 points, while the handysize index fell three points to 311 points.

Source: Reuters 

Previous Next

We Have Increased & Enhanced Our Global Presence: Mr. Suresh Sinha, MD, IRClass

View More Videos


India Tanker Shipping Trade Summit 2018

View All Albums