Baltic index slips as capesize rates fall

Sept 11 (Reuters) – The Baltic Exchange’s main sea freight index fell on Wednesday for a fifth straight session on lower capesize demand, further weighed down by weaker rates across other segments. * The Baltic index, which tracks rates for ships ferrying dry bulk commodities, fell 27 points, or 1.1%, to 2,366. * The capesize index dropped 68 points, or 1.4%, to 4,726. * Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore and coal, fell $481 to $35,183. * The panamax index fell 17 points, or 0.8%, to 2,144. * Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonnes to 70,000 tonnes, fell $144 to $17,171. * The supramax index edged down eight points to 1,311. (Reporting by Anjishnu Mondal in Bengaluru)

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s