Baltic Freight Index Down, Capesize, Panamax Rates Fall

MarineLink.com
Thursday, April 03, 2014

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, fell for an eighth consecutive session on Thursday as rates for capesize and panamax vessels continued lower.

The overall index, which factors in the average daily earnings of capesize, panamax, supramax and handysize dry bulk transport vessels, fell 38 points or 2.99 percent to 1,235.

The Baltic's capesize index fell 75 points, or 3.1 percent, to 2,343 points.

Average daily earnings for capesizes, which typically transport 150,000 tonne cargoes such as iron ore and coal, were down $691 to $16,984.

The panamax index fell 31 points, or 3.58 percent, to 836 points.

Average daily earnings for panamaxes, which usually carry coal or grains cargoes between 60,000 and 70,000 tonnes, were down $250 to $6,745.

(Reporting by NR Sethuraman in Bangalore; editing by Keiron Henderson)

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter July 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

U.S. Awards $61.8 Mln for Port Projects

U.S. Transportation Secretary Anthony Fox today announced 40 awards totaling nearly $500 million in funding for the  FY 2016 Transportation Investment Generating Economic Recovery (TIGER) grants.

Moody's: Challenges Ahead for Asian Port Operators

Moody's Investors Service says lackluster global growth, weak commodity prices, high capital expenditure commitments and a liner industry struggling with overcapacity

Swiber Applies for Judicial Management Instead of Liquidation

Singapore oilfield services company Swiber Holdings Ltd said on Friday it has applied to place itself under judicial management instead of liquidation.   Swiber

News

U.S. Awards $61.8 Mln for Port Projects

U.S. Transportation Secretary Anthony Fox today announced 40 awards totaling nearly $500 million in funding for the  FY 2016 Transportation Investment Generating Economic Recovery (TIGER) grants.

DP World takes over Rodney Container Terminal, Canada

DP World has signed a long-term lease agreement for the expansion and operation of the multi-purpose Rodney Container Terminal at Saint John, New Brunswick, Canada.

MED AMERICAS will Replace MGE Service

CMA CGM is revamping it MGE service becoming the MED AMERICAS, stand-alone CMA CGM service with dedicated fleet of 11 vessels of 2,500 TEU, in a continuous effort to improve service coverage,

Logistics

Boxship Capacity Crosses 20 million TEU Mark

This week, containership fleet capacity has passed the 20 million TEU mark, another milestone in the rapid rise to prominence of the sector, according to Clarksons Research.

MED AMERICAS will Replace MGE Service

CMA CGM is revamping it MGE service becoming the MED AMERICAS, stand-alone CMA CGM service with dedicated fleet of 11 vessels of 2,500 TEU, in a continuous effort to improve service coverage,

China Refineries Enters Global Oil Trade

During the last year, China’s “teapot” refiners are helping to boost China’s crude import demand and their influence is expanding, says Clarkson Research Services.

 
 
Maritime Security Maritime Standards Navigation Offshore Oil Pipelines Pod Propulsion Ship Electronics Ship Repair Ship Simulators Sonar
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: 0.2210 sec (5 req/sec)