rss icon Subscribe
desktop mobile

Falling Capesize Rates Weigh on Baltic Index

File Image (CREDIT: AdobeStock / (c) Lukasz Z)

Posted by Joseph Keefe

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, fell on Thursday on sliding rates for capesize vessels, weighed further by weaker panamax demand.

The overall index, which factors in rates for capesize, panamax, supramax and handysize shipping vessels, was down 35 points, or 2.74 percent, at 1,243 points.
The capesize index lost 139 points, or 6.53 percent, to 1,991 points, its lowest in over a month.
Average daily earnings for capesizes, which typically transport 150,000-tonne cargoes such as iron ore and coal, were down $864 to $14,660.
The panamax index was down 59 points, or 3.66 percent, at 1,553 points.
Average daily earnings for panamaxes, which usually carry coal or grain cargoes of about 60,000 to 70,000 tonnes, decreased $468 to $12,448.
Among smaller vessels, the supramax index fell 1 point to 899 points, while the handysize index rose 4 points to 572 points.
Reporting by Nithin Prasad

Apr 20, 2017

 

Bulk Carrier Trends

Golden Ocean Adds New Vessels

Golden Ocean Group Limited (GOGL) announced that it has entered a deal to acquire two Capesize bulk carriers from affiliates of Hemen Holding Limited at a purchase price of $43

Tomini Places Order for 3 Kamsarmaxes

Photo: Tomini Shipping

UAE-based Tomini Shipping has increased its fleet size further with an order for three Kamsarmaxes.

Boston Carriers Completes Contract of MV Nikiforos

Photo: Boston Carriers Inc

Boston Carriers announces that on October 2017, Nikiforos completed a spot voyage contract to

Contracts

INEOS to Ship US Ethane to China in 2019

U.K. chemicals firm INEOS said it has entered a long-term supply agreement with Singapore-based SP Chemicals to ship ethane from U.S. shale gas to China for the first time

Wärtsilä to Power Viking Line Ferry

Viking Line ferry. Photo: Wärtsilä

Wärtsilä will supply the engines, the navigation system and a broad scope of other products and

MMT Begins AQUIND Interconnector Survey

MMT´s Survey and ROV vessel Franklin (Photo: MMT)

MMT informs it has begun an offshore geophysical survey for the AQUIND Interconnector project.

Maritime Apps