Baltic index falls for tenth straight session
The Baltic Exchange’s main sea freight index, which tracks rates for ships ferrying dry bulk commodities, slipped for the tenth successive time on Wednesday as rates across the capesize and panamax categories declined.
The Baltic index, which reflects rates for capesize, panamax and supramax vessels, fell 17 points, or 0.7%, to 2,266 points.
The capesize index was down 62 points, or 1.4%, to 4,394 points.
Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore and coal, declined $242 to $33,141.
The panamax index fell 32 points, or 1.5%, to 2,089 points.
Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonnes to 70,000 tonnes, fell $260 to $16,717.
The supramax index was unchanged at 1,292 points.
Source: Reuters (Reporting by Anjishnu Mondal in Bengaluru)