Baltic Index Falls as Capesize Rates Decline

By Brijesh Patel November 5, 2018

The Baltic Exchange's main sea freight index, tracking rates for ships transporting dry bulk commodities, slipped 2 percent on Monday, hurt by falling demand for capesize vessels.

* The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, fell 29 points, or 2 percent, to 1,428 points, its biggest percentage drop since September 13.

* The capesize index dipped 105 points, or 4.2 percent - also its biggest percentage fall since September 13, to 2,397 points.

* Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore and coal, decreased $644 to $17,768.

* The panamax index gained 1 point at 1,531 points.

* Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, rose $13 to $12,276.

* The supramax index eased 10 points to 1,041 points.

(Reuters, Reporting by Brijesh Patel in Bengaluru; Editing by Shailesh Kuber)