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

Diana Enters TC Contract with Unico Logistics

Maera. Photo: Diana Shipping Inc

Diana Shipping, a global shipping company specializing in the ownership of dry bulk vessels

Global BCOs Hit by Rising Contract Rates from Asia

Graph: Drewry Benchmarking Club

Contract freight rates paid by Beneficial Cargo Owners to move their products by container have

More Cars Shipped Via The Port Of Gothenburg

Photo: Gothenburg Port Authority

During the first quarter of the year, new car exports and imports passing through the Port of

Contracts

Curtiss-Wright Winch Systems for US Navy Sonar

Curtiss-Wright’s Defense Solutions division has been selected by Raytheon Integrated Defense Systems to provide its winch system technology for use in a new Variable Depth Sonar

Lamprell's Revenue Falls 65 pct, Cuts FY Forecast

File Image (CREDIT: AdobeStock / (c) Nightman)

Oil rig builder Lamprell Plc reported a 64.7 percent fall in revenue in the first half of the year

Navy Awards Contract for Columbia Class Submarine Development

Photo: United States Navy

The Navy awarded a $5.1 billion contract to General Dynamics Electric Boat for Integrated Product

Maritime Apps