Baltic index falls as rates drop across all segments
The Baltic Exchange’s main sea freight index edged lower on Wednesday, as rates declined across all vessel segments.
The Baltic dry index, which tracks rates for ships ferrying dry bulk commodities and reflects rates for capesize, panamax and supramax vessels, was down by 9 points, or 0.6%, at 1,509.
The capesize index fell 15 points, or 0.7%, to 2,278.
Average daily earnings for capesizes, which typically transport cargoes of 170,000 tonnes to 180,000 tonnes including iron ore and coal, declined $117 to $18,896.
The panamax index was down 13 points, or 0.8%, at 1,616, falling for a eighth straight session.
Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonnes to 70,000 tonnes, fell by $114 to $14,544.
The supramax index inched 4 points lower to 960.
Source: Reuters (Reporting by Diptendu Lahiri in Bengaluru; Editing by Aditya Soni)