Home / Shipping News / Dry Bulk Market / Baltic index dips on lower capesize rates

Baltic index dips on lower capesize rates

The Baltic Exchange’s main sea freight index, which tracks rates for ships carrying dry bulk commodities, dropped on Tuesday, as a dip in the capesize segment countered gains in panamax vessels.

* The overall index .BADI, which factors in rates for capesize, panamax and supramax shipping vessels, fell 18 points, or 0.97%%, to 1,829.

* The capesize index .BACI slipped 53 points, or 1.96%, to 2,655.

* Average daily earnings for capesize vessels .BATCA, which typically transport 150,000-ton cargoes of iron ore and coal, among others, decreased $445 to $22,015.

* Iron ore futures rose on Tuesday, as resilient demand and improved prospects in China continued to support the market.

* The panamax index .BPNI snapped a six-session losing streak and rose 11 points, or about 0.61%, to 1,822.

* Average daily earnings for panamax vessels .BPWT, which usually carry about 60,000-70,000 tons of coal or grain cargo, climbed $101 to $16,401.

* Among smaller vessels, the supramax index .BSIS eased 10 points, or 0.72%, to 1,382.
Source: Reuters (Reporting by Anmol Choubey in Bengaluru; Editing by Shreya Biswas)

Recent Videos

Hellenic Shipping News Worldwide Online Daily Newspaper on Hellenic and International Shipping