Baltic Sea Freight Index Down, Capesize Rates Slump

MarineLink.com
Tuesday, April 08, 2014

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, fell for an 11th straight session on Tuesday, mainly driven by a heavy drop in capesize vessel rates.

The overall index, which factors in the average daily earnings of capesize, panamax, supramax and handysize dry bulk transport vessels, fell 88 points, or 7.42 percent, to 1,098.

The Baltic's capesize index fell 264 points, or 11.5 percent, to 2,029 points.

Average daily earnings for capesizes, which typically transport 150,000-metric-ton cargos such as iron ore and coal, were down $2,695 at $13,515.

The panamax index fell 11 points, or 1.35 percent, to 801 points.

Average daily earnings for panamaxes, which usually carry coal or grains cargoes between 60,000 and 70,000 tonnes, were down $84 at $6,464.

(Reporting by NR Sethuraman in Bangalore, editing by David Evans)

Maritime Reporter July 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

News

GasLog Orders Two LNG Carriers

GasLog Ltd. today announced that it has ordered two new 174,000 cubic meter LNG carriers from Hyundai Heavy Industries Co., Ltd. ("Hyundai") in South Korea.

Injured Woman Rescued on Lake Washington

Coast Guard, Seattle Police Department, Seattle Fire Department, King County Sheriff’s Office and Washington Department of Fish and Wildlife personnel rescued

Jonathan Appointed LOC Group's London MD

In line with LOC’s continual global growth and strengthening of the senior management team,  Britain has been appointed as Managing Director of the London operation.

Logistics

ASEAN: China Shuns South China Sea Dialogue

Chinese Vice Foreign Minister Liu Zhenmin said on Monday the disputed South China Sea should not be discussed at a meeting of the Association of Southeast Asian Nations (ASEAN).

Contship Italia Signs Iran MoU

Contship Italia Spa, also on behalf of Eurogate GmbH & Co. KGaA, KG, recently signed a strategic Memorandum of Understanding (M.O.U.) with Sina Port & Marine Company (SPMCO),

First LNG Shipment from Donggi Senoro in Indonesia

Indonesia’s $2.8 billion Donggi-Senoro LNG project has shipped its first cargo of the chilled gas on August 2, Mitsubishi Corp, which holds about 45 percent of the project, stated.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Offshore Oil Pipelines Pod Propulsion Salvage Ship Electronics Ship Simulators Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.2081 sec (5 req/sec)