Baltic Indices Down; Freefall To Continue

The Baltic indices all posted losses yesterday, especially the Panamax-driven ones, and word in the market is that the fall will continue. The recent turnaround on the Panamax indices was largely attributed to a drying up on Japanese interest in the Pacific region, coupled with an increase on tonnage availability in the Atlantic. Yesterday, the Baltic Freight Index (BFI) fell 15 points to 999; the Baltic Panamax Index slumped 23 points to 1,090; the Baltic Handy Index slipped one point to 843; and the Baltic Capesize Index shed three points to 866.