Falling Vessel Rates Pull Down Baltic Sea Freight Index

MarineLink.com
Monday, April 07, 2014

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, fell for a tenth straight session on Monday as vessel rates continued to fall.

The overall index, which factors in the average daily earnings of capesize, panamax, supramax and handysize dry bulk transport vessels, fell 19 points, or 1.58 percent, to 1,186.

The Baltic's capesize index fell 13 points, or 0.56 percent, to 2,293 points.

Average daily earnings for capesizes, which typically transport 150,000 tonne cargoes such as iron ore and coal, were down $241 to $16,210.

The panamax index fell 10 points, or 1.22 percent, to 812 points.

Average daily earnings for panamaxes, which usually carry coal or grains cargoes between 60,000 and 70,000 tonnes, were down $83 to $6,548.

(Reporting by NR Sethuraman in Bangalore; editing by Jane Baird)

Maritime Reporter June 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Bulk Carrier Trends

LUSCHI Begins Dredging at ArcelorMittal’s Canal

LUSCHI announced today it will mobilize its vessel Giovanella to Espírito Santo to assist in the dredging and final disposal of accumulated sediments in the seawater storage canal of ArcelorMittal,

Grounded Freighter Refloated in Lake St. Clair

The Federal Rideau, a 656-foot freighter that had been hard aground in the downbound shipping channel of Lake St. Clair since early Sunday morning, was refloated

News Flash! Greek Shipowners Prefer Bulkers

The buying interest from Greek ship owners is focused on bulkers to an increasing extent, BIMCO said. Data from VesselsValue.com reveal that Greek owners were at

News

Messer's CEO Norville Announces Retirement

Bill Heller to assume the position as Messer Cuttings Systems’ President and CEO Gary Norville started at Messer Cuttings Systems Inc. in September 1980 selling and installing cutting machines.

Charter Boat Crew Rescued in Gulf of Mexico

U.S. Coast Guard search and rescue crews worked throughout the night to find a missing charter boat with four people aboard as far as 70 miles off Galveston. A

Iraq's Kurds Have Right to Sell Oil While Squeezed by Baghdad

Iraq's Kurdish region has the right to keep selling oil as long as the Baghdad government keeps cutting its budget, the head of the Kurdish parliament's energy committee said on Tuesday,

Logistics

Iraq's Kurds Have Right to Sell Oil While Squeezed by Baghdad

Iraq's Kurdish region has the right to keep selling oil as long as the Baghdad government keeps cutting its budget, the head of the Kurdish parliament's energy committee said on Tuesday,

Diana Containerships Q2 & 1H 2014 Financial Results

Greece-based Diana Containerships Inc., a global shipping company specializing in the ownership of containerships, has reported net income of $0.6 million for the second quarter of 2014,

Mercator Lines Profit Hit by Low Bulk Freight Rate

Mercator Lines (Singapore) reported a revenue of US$ 16.5 million for Q1 2015, an increase of 19% as compared to correspoding period in the previous previous year, however a net loss of US$ 7.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Naval Architecture Navigation Offshore Oil Port Authority Ship Electronics Ship Simulators Sonar
rss | archive | history | articles | privacy | terms and conditions | 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: 0.1128 sec (9 req/sec)