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Sunday, April 23, 2017

Baltic Index Falls on Lower Vessel Demand

May 9, 2016

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Monday pulled down by weaker demand across vessel segments.

 
The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was down 15 points, or 2.38 percent at 616 points.
 
The capesize index was down 55 points, or 6.17 percent at 837 points.
 
Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, decreased $411 to $6,613.
 
The panamax index fell 7 points or 1.18 percent to 584 points.
 
Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, fell $53 to $4,670 on Monday.
 
Among smaller vessels, the handysize index fell four points to 355 points and the supramax index was down three points at 575 points.
 
 
(Reporting by Apeksha Nair in Bengaluru)
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