Baltic index slips to near 5-month low as vessel rates fall
The Baltic Exchange’s main sea freight index, which tracks rates for capesize, panamax and supramax vessels, fell to a near five-month low on Wednesday as rates across vessel segments fell.
The Baltic dry index fell 59 points, or 4.9%, to 1,141, its lowest since June 16.
The capesize index slipped 169 points, or 9.5%, to 1,613, its lowest since June 12.
Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, dipped $1,402 to $13,379.
The panamax index eased 5 points, or 0.4%, to 1,165 for the 10th straight session.
Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 tonnes to 70,000 tonnes, fell $42 to $10,488.
The supramax index shed 6 points to 882.
Source: Reuters (Reporting by Asha Sistla in Bengaluru; Editing by Vinay Dwivedi)