Baltic Index Slips as Capesize Rates Fall
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, slipped on Thursday as capesize rates fell for the second straight day.
The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was down 10 points, or 1.16 percent, at 855 points.
The capesize index lost 85 points, or 6.24 percent, at 1,277 points.
Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were down $793 to $9,748.
The panamax index gained 35 points, or 3.88 percent, at 938 points.
Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, increased $277 to $7,519.
Among smaller vessels, the supramax index rose 11 points to 690 points, while the handysize index rose 4 points to 431 points.
(Reporting by Karen Rodrigues in Bengaluru)
