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 Carriers

K Line Adds 'Corona' Series Coal Carrier "Corona Xanadu"

Image: Kawasaki Kisen Kaisha

Kawasaki Kisen Kaisha (“K” Line) is proud to announce the delivery of “Corona Xanadu,” an 88

Diana Shipping TC Contract for P. S. Palios with Koch

P. S. Palios. Photo: Diana Shipping Inc.

Diana Shipping announced that, through a separate wholly-owned subsidiary, it has entered into a

Bulk Shipping: Economics 101

© yaniv / Adobe Stock

Supply and Demand in the bulk transport sectors will define the course line ahead.

Contracts

Italy’s First, Fully-Automated Gantry Cranes Reach Vado Ligure

Photo: APM Terminals

Italy’s first ARMG (Automated rail mounted gantry cranes) have reached APM Terminals Vado Ligure.

Total, Novatek Pact for Arctic LNG 2 Project

Image: Total

In the presence of the President of the Russian Federation, Vladimir Putin, and the President of

Ideol, STX to Develop Next-Generation Offshore Substations

Photo:  Ideol

Ideol and STX Europe Offshore Energy, the well-known EPCIM supplier of substations to the

Maritime Apps