Baltic Index Slips on Lower Capesize Rates
The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, fell slightly on Wednesday on lower capesize rates.
The overall index, which factors in average daily earnings of capesize, panamax, supramax and handysize dry bulk transport vessels, was down one point at 600 points.
The capesize index shed five points to 544 points.
Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were down $134 to $4,627.
Meanwhile, the panamax index was up 10 points, or 1.52 percent, at 669 points.
Average daily earnings for panamaxes, which usually carry 60,000 to 70,000-tonne cargoes of coal or grain, rose by $77 to $5,334.
The handysize index was flat at 355 points, while the supramax index gained one point to 620 points.
(Reporting by Vijaykumar Vedala; Editing by Susan Fenton)
