Baltic index falls for fifth day on muted demand across segments
Baltic Exchange’s main sea freight index , which tracks rates for ships carrying dry bulk commodities, fell for the fifth consecutive session on Tuesday, pressured by weaker rates across all vessel segments.
The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, fell 45 points, or 1.4%, to 3,179.
The capesize index eased 56 points, or about 1.7%, to 3,293.
Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes of coal and steel-making ingredient iron ore, declined $464 to $27,309.
The panamax index dipped 81 points, or 1.9%, to 4,160.
Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonnes to 70,00 tonnes, fell $733 to $37,437.
The supramax index fell 15 points to 2,920.
Source: Reuters (Reporting by Eileen Soreng in Bengaluru; Editing by Krishna Chandra Eluri)