Baltic index down for 13th straight session on softer demand across vessels
The Baltic Exchange’s main sea freight index, which tracks rates for ships carrying dry bulk commodities, fell for a 13th straight session on Monday, weighed down by lower rates.
The Baltic index, which reflects rates for capesize, panamax and supramax vessels, declined 23 points, or 1.1%, to 2,108 points.
The capesize index was down 49 points, or 1.2%, to 3,903 points, also posting its 13th straight session of losses.
The average daily earnings for capesizes, which typically transports 170,000-180,000 tonne cargoes such as iron ore and coal, declined by $358 to $29,811.
The panamax index fell 35 points, or 1.7%, to 1,978 points.
Average daily earnings for panamaxes, which usually carries coal or grain cargoes of about 60,000 tonnes to 70,000 tonnes, dropped $278 to $15,831.
The supramax index fell by 2 points to 1,298 points.
Source: Reuters (Reporting by Harshith Aranya in Bengaluru)