rss icon Subscribe
desktop mobile

Baltic Index Inches Down

File photo: NORDEN

Posted by Eric Haun

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, edged lower on Friday on weaker rates for smaller vessels.
The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was down one point at 956 points.
The capesize index rose 30 points, or 1.8 percent, to 1,668 points.
Daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were up $221 at $12,239.
Capesize rates were supported by hopes that steel demand in top consumer China would remain strong.
Iron ore shipments account for around a third of seaborne volumes on the larger capesizes.
The panamax index slid 24 points, or 2.7 percent, to 870 points.
Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, declined $192 to $7,000.
Among smaller vessels, the supramax index was down 5 points at 759 points, while the handysize index fell 2 points to 502 points.


(Reporting by Eileen Soreng in Bengaluru; Editing by Saumyadeb Chakrabarty)

May 19, 2017

 

Bulk Carriers

The 'Grande Halifax' Christened in Halifax

From left, Andy Abbott CEO of ACL, Karen Oldfield and Costantino Baldissara. Photo:  Hafen Hamburg Marketing

The Pure Car & Truck Carrier Grande Halifax, owned and operated by the Grimaldi Group

Eniram Signs On LNG Powered Bulk Carrier Project

(Image: Arista Shipping)

The Project Forward initiative, which is led by Athens-based Arista Shipping, has produced an

ADM CFO: Supply Chain Can be Managed Through U.S.-China Trade Tensions

File Image (CREDIT: AdobeStock / © Igor Strukov)

Global grain merchant Archer Daniels Midland Co (ADM)feels it can manage its supply chain to adapt

Finance

PAO Sovcomflot: Tanker Market is Challenging

Photo: PAO Sovcomflot

PAO Sovcomflot (SCF Group) continued to increase the share of its fleet serving long-term energy

Federal Funding for Port of Vancouver

Photo: Vancouver Fraser Port Authority

The Vancouver Fraser Port Authority received federal funding for projects that will improve the

NYK Line's Green Bonds Terms and Conditions Determined

Image: NYK Line

Japan's Nippon Yusen Kaisha (NYK), the world's first shipping company to issue a labelled green

Maritime Apps