Baltic sea freight index down on muted dry bulk activity

By: | at 11:19 AM | Maritime  

The Baltic Exchange’s main sea freight index, which tracks rates for ships carrying dry bulk commodities, fell for the sixth consecutive session on Tuesday on muted activity.

* The overall index, which factors in the average daily earnings of capesize, panamax, supramax and handysize dry bulk transport vessels, fell 46 points or 3.38 percent to 1,316.

* The Baltic’s capesize index fell 68 points, or 2.64 percent, to 2,505 points.

* Average daily earnings for capesizes, which typically transport 150,000 tonne cargoes such as iron ore and coal, were down $894 to $18,585.

* The panamax index dropped 45 points, or 4.78 percent, to 897 points.

* Average daily earnings for panamaxes, which usually carry coal or grains cargoes between 60,000 and 70,000 tonnes, were down $363 to $7,237. (Reporting by NR Sethuraman in Bangalore; editing by Jane Baird)


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