rss icon Subscribe
desktop mobile

Baltic Index Down as Capesize Rates Sag

File Image (CREDIT: AdobeStock / (c) lidian neeleman)

Posted by Joseph Keefe

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Wednesday on weaker rates for larger vessels.

The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was down 16 points, or 1.24 percent, at 1,278 points.
The capesize index lost 90 points, or 4.05 percent, to end at 2,130 points.
Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were down $630 at $15,524.
The panamax index snapped a seven session gain-streak and fell 9 points, or 0.56 percent, to close at 1,612 points.
Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, decreased $71 to $12,916.
Among smaller vessels, the supramax index rose 2 points to 900 points, while the handysize index rose 5 points to 568 points.
Reporting by Nithin Prasad

Apr 19, 2017

 

Bulk Carrier Trends

Panama Frees Vessel Held in Western Sahara Claim

Panama authorities have released a Moroccan phosphate shipment from the disputed Western Sahara territory after it was temporarily held by a legal challenge from the Polisario

Jinhui Shipping Sees Bumpy Road to Recovery

Oslo-listed dry bulker Jinhui Shipping sees a bumpy road ahead despite signs of a recovery in the dry bulk market.   The road to recovery will be challenging and the market will

Weaker Panamax Rates Weigh on Baltic Index

File photo: Star Bulk

The Baltic Exchange's main sea freight index fell slightly on Monday, as sliding panamax rates

Contracts

Kalmar Delivers RTGs to Evergreen

Pic: Kalmar

Kalmar, part of Cargotec, has successfully delivered five rubber-tyred gantry (RTG) cranes to

COSCO Singapore Wins FSRU Deal

Photo: Cosco Shipyard

Cosco (Qidong) Shipyard Co, a subsidiary of Cosco Corp's 51 per cent subsidiary Cosco Shipyard

Diana Shipping Adds m/v Astarte

Photo: Diana Shipping Inc

Diana Shipping, a company specializing in the ownership of dry bulk vessels, has announced that

Maritime Apps