Baltic Index Falls as Capesize Rates Sag

Maritime Activity Reports, Inc.

July 26, 2017

File Image (CREDIT: AdobeStock / (c) Lukasz Z)

File Image (CREDIT: AdobeStock / (c) Lukasz Z)

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Wednesday as rates for larger vessels dropped.

 
The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was down 12 points, or 1.22 percent, at 968 points.
 
The capesize index lost 15 points, or 1.23 percent, at 1,206 points.
 
Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were down $108 at $9,439.
 
The panamax index shed 33 points, or 2.69 percent, at 1,192 points.
 
Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, decreased $260 to $9,549.
 

Among smaller vessels, the supramax index fell 6 points to 807 points, while the handysize index was flat at 500 points.

 

Reporting by Karen Rodrigues 

Maritime Reporter E-News subscription

Maritime Reporter E-News is the maritime industry's largest circulation and most authoritative ENews Service, delivered to your Email five times per week

Subscribe for Maritime Reporter E-News