Baltic index down with falling capesize and panamax rates

By: | at 09:02 AM | Breakbulk & Projects  

The Baltic Exchange’s main sea freightindex, which tracks rates for ships carrying dry bulkcommodities, fell on Thursday as capesize and panamax ratesslid.

* The overall index, which factors in the average dailyearnings of capesize, panamax, supramax and handysize dry bulktransport vessels, fell 22 points, or 1.02 percent, to 2,134points.

* The Baltic’s capesize index fell 42 points, or1.15 percent to 3,596 points.

* Average daily earnings for capesizes, which typicallytransport 150,000-tonne cargoes such as iron ore and coal, lost$42, to $32,808.

* The panamax index skidded 63 points, or 3.24percent, to 1,883 points.

* Average daily earnings for panamaxes, which usually carry60,000- to 70,000-tonne cargoes of coal or grains, were down$502 to $15,017.


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