Falling vessel rates pull down Baltic sea freight index

By: | at 12:31 PM | Maritime  

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

* The overall index, which factors in the average daily earnings of capesize, panamax, supramax and handysize dry bulk transport vessels, fell 19 points, or 1.58 percent, to 1,186.

* The Baltic’s capesize index fell 13 points, or 0.56 percent, to 2,293 points.

* Average daily earnings for capesizes, which typically transport 150,000 tonne cargoes such as iron ore and coal, were down $241 to $16,210.

* The panamax index fell 10 points, or 1.22 percent, to 812 points.

* Average daily earnings for panamaxes, which usually carry coal or grains cargoes between 60,000 and 70,000 tonnes, were down $83 to $6,548.


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