Baltic index slips as rates dip across all vessels
The Baltic Exchange’s main sea freight index, which tracks rates for capesize, panamax and supramax vessels, fell on Wednesday, pressured by weaker rates across all vessel segments.
The Baltic dry index was down 39 points, or 3.1%, at 1,224.
The capesize index fell 91 points, or 4.9%, to 1,771 – its lowest since mid-June.
Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, dipped $754 to $14,691.
The panamax index was down 19 points, or 1.5%, at 1,231.
Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, fell $177 to $11,075.
The supramax index eased 10 points to 922.
Source: Reuters (Reporting by Asha Sistla in Bengaluru; Editing by Ramakrishnan M.)