Marine Link
Wednesday, April 25, 2018

Baltic Index Slips on Weak Capesize Rates

Maritime Activity Reports, Inc.

June 20, 2017

© Carabay / Adobe Stock

© Carabay / Adobe Stock

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Tuesday for the fifth straight session, hurt by lower capesize ship rates.

The overall index, which considers rates for capesize, panamax, supramax and handysize shipping vessels, slipped 1 point, or 0.12 percent, to 847 points.

The capesize index shed 59 points, or 5.05 percent, to end at 1,110 points, its lowest level since March 2.

Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, fell $444 to $8,354.

The panamax index gained 33 points, or 3.35 percent, to 1,017 points.

Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, increased $265 to $8,151.

Among indexes for smaller vessels, the supramax index rose 9 points to 717 points, while the handysize index climbed 4 points to 441 points.

(Reporting by Karen Rodrigues in Bengaluru)

Maritime Reporter Magazine Cover Apr 2018 - Offshore Energy Annual

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Maritime Reporter E-News subscription

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

Subscribe for Maritime Reporter E-News