Project Cargo / Heavy Lift Bi-Annial
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Baltic sea freight index down lower vessel activity
The Baltic Exchange’s main sea freight index, which tracks rates for ships carrying dry bulk commodities, fell for a ninth straight session on Friday on lower vessel activity.
* The overall index, which factors in the average daily earnings of capesize, panamax, supramax and handysize dry bulk transport vessels, fell 30 points, or 2.43 percent, to 1,205.
* The Baltic’s capesize index fell 37 points, or 1.58 percent, to 2,306 points.
* Average daily earnings for capesizes, which typically transport 150,000 tonne cargoes such as iron ore and coal, were down $533 to $16,451. Capesize rates fell about 16 percent this week.
* The panamax index fell 14 points, or 1.67 percent, to 822 points.
* Average daily earnings for panamaxes, which usually carry coal or grains cargoes between 60,000 and 70,000 tonnes, were down $114 to $6,631. Panamax rates fell about 13 percent this week.
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