Baltic index falls to near 5-month low as capesize rates slip
The Baltic Exchange’s main sea freight index, which tracks rates for capesize, panamax and supramax vessels, fell to a near 5-month low on Thursday as demand for capesize vessels weakened.
The Baltic dry index fell 17 points, or 1.5%, to 1,124, its lowest since June 16.
The capesize index slipped 63 points, or 3.9%, to 1,550, its lowest since June 12.
Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, dipped $525 to $12,854.
The panamax index rose 12 points, or 1%, to 1,177 for the 11th consecutive session.
Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonnes to 70,000 tonnes, rose $107 to $10,595.
The supramax index edged up 2 points to 884.
Source: Reuters (Reporting by Anjishnu Mondal in Bengaluru; Editing by Vinay Dwivedi)