Baltic index continues to slide on weaker rates across segments

London - The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Friday for the 14th straight session as rates across vessel segments continued to slide.

di Reuters

London - The Baltic Exchange’s main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Friday for the 14th straight session as rates across vessel segments continued to slide. The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was down 20 points, or 2.35 percent, at 830 points – its lowest level since Feb. 22. The capesize index lost 56 points, or 3.92 percent, at 1,374 points. Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were down $410 at $9,965. The panamax index slipped 18 points, or 2.22 percent, to close at 792 points – its lowest since Oct. 13. Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, decreased $144 to $6,358. Among smaller vessels, the supramax index fell 11 points to 674 points, while the handysize index fell 3 points to 446 points.

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