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Maritime Logistics Professional

May 10, 2018

Baltic Index Slips, Snaps Five-session Gain Streak

© aigarsr / Adobe Stock

© aigarsr / Adobe Stock

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Thursday for the first time in five sessions as rates for capesize and panamax vessels fell.

The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, was down 12 points, or 0.8 percent, at 1,453 points.

The capesize index also snapped a five session gain streak and lost 51 points, or about 2 percent, at 2,565 points.

Average daily earnings for capesizes, which typically transport 170,000-180,000 tonne cargoes such as iron ore and coal, were down $279 to $20,190.

The panamax index was down seven points, or 0.6 percent, at 1,246 points.

Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, decreased $55 to $10,034.

The supramax index rose four points to 1,052 points.

(Reporting by Nithin Prasad in Bengaluru; Editing by Shailesh Kuber)