Baltic Index Dips on Weaker Smaller Vessel Demand
The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, was marginally down on Wednesday as demand for smaller vessels eased.
The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was down two points, or 0.2 percent, at 1,005 points.
The supramax index was down four points to 790 points, while the handysize index fell two points to 510 points.
The capesize index rose 10 points, or 0.61 percent, to 1,645 points.
Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, fell $42 to $12,404.
The panamax index halted a 14 session losing streak and rose four points, or 0.4 percent, to 1,011 points.
Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, were up $27 to $8,127.
(Reporting by Vijaykumar Vedala in Bengaluru)
