Baltic Sea Freight Index down on Weak Capesize Rates

MarineLink.com
Friday, April 11, 2014

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, dropped for a 14th straight session on Friday, driven mainly by falling capesize rates.

The overall index, which factors in the average daily earnings of capesize, panamax, supramax and handysize dry bulk transport vessels, fell 27 points, or 2.62 percent, to 1,002.

The Baltic's capesize index fell 76 points, or 4.08 percent, to 1,789 points.

Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were down $721 $11,042. Capesize rates have fallen about 32 percent this week.

The panamax index fell 5 points, or 0.64 percent, to 782 points.

Average daily earnings for panamaxes, which usually carry coal or grain cargoes of 60,000 to 70,000 tonnes, were down $34 to $6,312. Panamax rates have fallen about 4 percent this week.

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

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

Bulk Carrier Trends

Bulk Carrier Ship Delivered to Pioneer Marine

Pioneer Marine, a shipowner and drybulk handysize transportation service provider, announced  it has accepted delivery of a 38,464 DWT Green Dolphin eco-design handysize vessel, the M.

G E Shipping Takes Delivery of Bulker

The Great Eastern Shipping Company Ltd. (G E Shipping) took delivery of a new building Kamsarmax Dry Bulk Carrier “Jag Aakash” (81,600 dwt). The vessel was ordered

Goldenport Bleeds in Red

Goldenport Holdings Inc reported a net loss of USD14.7 million in the first six months of 2015, significantly wider than the USD1.4 million net loss a year earlier

Logistics

MN: Foss Maritime Company

The Company: Foss Maritime Company is wholly owned by Saltchuk Resources, a privately owned family investment company formed in 1982 and based in the Pacific Northwest.

LNG-fueled Box Ship a 'Momentous Step Forward'

On Saturday, August 29, 2015, the world’s first series of energy efficient containerships welcomed its second LNG-powered vessel in San Diego, fueling the U.S.

Fleet Growth Weighs on Product Tanker Earnings

Healthy returns enjoyed by the product tanker market in recent years are under threat as impending fleet growth is expected to reduce the sector’s earnings over the medium term,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Pipelines Port Authority Salvage Ship Repair Shipbuilding / Vessel Construction Sonar Winch
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: 0.3571 sec (3 req/sec)