Falling vessel rates keep Baltic sea freight index down

By: | at 11:40 AM | Maritime  

The Baltic Exchange’s main sea freight index, which tracks rates for ships carrying dry bulk commodities, fell on Thursday for a 13th straight session as vessel rates continued to soften.

* The overall index, which factors in the average daily earnings of capesize, panamax, supramax and handysize dry bulk transport vessels, dropped 32 points, or 3.02 percent, to 1,029.

* The Baltic’s capesize index fell 81 points, or 4.16 percent, to 1,865 points.

* Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were down $825 at $11,763.

* The panamax index fell 7 points, or 0.88 percent, to 787 points.

* Average daily earnings for panamaxes, which usually carry coal or grain cargoes between 60,000 and 70,000 tonnes, were down $56 at $6,346.


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